Money
7 stories, 41 sources cited
HSBC Australia's $35 million scam penalty covers five separate failures, not one
The notice the Federal Court ordered HSBC to publish on 7 July 2026 sets out five distinct contraventions running from January 2020 to November 2024.
Sources cited: 7 sources
Record $300.2 million in CFD penalties, and the two firms profited when clients lost
Justice Wigney ordered $156.7 million against Union Standard, $114.1 million against EuropeFX and $29.4 million against TradeFred on 12 June 2026. Cus
Sources cited: 6 sources
Snaffle charged interest on the full contract price, not the balance, across 38,562 contracts
Justice Beach ordered a $33.5 million penalty against Walker Stores, trading as Snaffle, on 18 May 2026. Interest was applied to the total contract am
Sources cited: 6 sources
Westpac penalised $26 million after 1,013 online hardship applications went astray
Justice McEvoy imposed the penalty on 26 May 2026 for 277 hardship notices that never received a written decision. The wider finding is larger: at lea
Sources cited: 6 sources
Mercer Super fined $10.3 million for eight investigations it reported late or never at all
Justice Button's judgment of 26 June 2026 splits the penalty three ways and records what the unreported investigations were about: insurance premiums
Sources cited: 6 sources
About 11,000 people put $1.1 billion into First Guardian and Shield, and most never complained
ASIC recorded fewer than 2,000 complaints lodged with AFCA as at February 2026, against roughly 11,000 investors. By then about 4,000 consumers had re
Sources cited: 5 sources
Court finds 13 of 14 Coles Down Down tickets misled, and points to 12 weeks as the test
Justice O'Bryan's judgment of 14 May 2026 found the sample tickets misleading because the higher price had not applied for a reasonable period. He ref
Sources cited: 5 sources