Infringement notices
This register records infringement notices served by APRA since 1 August 2019.
APRA has the power to serve infringement notices under the Superannuation Industry (Supervision) Act 1993 (SIS Act) and the Financial Sector (Collection of Data) Act 2001 (FSCODA).
APRA’s Infringement Notice Guidelines provide background information and general guidance on APRA’s approach to issuing infringement notices under the SIS Act and FSCODA.
Since 1 August 2019, APRA has served 715 infringement notices for breaches of FSCODA. All of these notices have been paid. Details of these notices are set out below.
| Date issued | Name of entity | Relevant Act and section | Alleged conduct | Penalty | Media release |
|---|---|---|---|---|---|
| 8 August 2019 | Capital Finance Australia Limited | Subsection 13(9) of FSCODA | 335 daily offences for failure to give reporting documents to APRA within the timeframes required | $703,500 | APRA fines Westpac for failing to meet legal reporting requirements |
| 8 August 2019 | St George Finance Holdings Limited | Subsection 13(9) of FSCODA | 146 daily offences for failure to give reporting documents to APRA within the timeframes required | $306,600 | APRA fines Westpac for failing to meet legal reporting requirements |
| 8 August 2019 | Westpac Banking Corporation | Subsection 13(9) of FSCODA | 234 daily offences for failure to give reporting documents to APRA within the timeframes required | $491,400 | APRA fines Westpac for failing to meet legal reporting requirements |