Australia - Fine-Ancial Misconduct: ASIC Steps Up Penalties Cases To Stamp Out Misconduct. Legal News and Analysis - Australia - Regulatory & Compliance -
This edition of the Update covers: Recent legal and regulatory developments, including the release of regulatory guidance on crypto asset-related investment products,.
The Federal Court has ordered an industry super fund a $20 million penalty for charging customers fees for advice services it did not provide. In a public update, ASIC stated that the Aware Financial
Aware Financial Services Australia Limited has been ordered by the Federal Court to pay a $20 million penalty for charging over 25,000 customers fees for financial services it did not provide.
<p><span>Aware Financial Services Australia Limited (Aware FS), formerly State Super Financial Services Australia Limited (StatePlus), has been ordered by the Federal Court to pay a $20 million penalty for charging over 25,000 customers fees for financial services it did not provide, in contravention of the ASIC Act.</span></p>
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