The ill gotten gains of corporates and individuals who have broken the law should be clawed back and deferred prosecution agreements introduced that could see multi-billion-dollar fines for corporate wrongdoing.
Those are some of the recommendations from the nation’s leading regulators in how to better tackle white collar crime.
Unlike the US, Canada and the UK, Australia currently has no “disgorgement” penalties to allow the Australian Securities and Investments Commission to force repayment of profits from companies and white collar crooks hauled before the courts in civil actions.
‘Enforcement 40’ for 2020
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