• Thu. May 23rd, 2024

Ansa Finance, manager fined over pay

Byadmin

Mar 12, 2024 #Ansa, #Finance, #fined, #manager, #Pay


Ansa Finance, manager fined over pay | Australian Broker News















A total $99,900 in penalties secured

A significant legal decision has resulted in hefty fines for a Melbourne-based mortgage broking business, Ansa Finance, and its manager, Joshua Fuoco, for neglecting required back pay to workers and failure to issue payslips.

Court ruling on compliance failures

The Federal Circuit and Family Court handed down two separate rulings imposing penalties amounting to $83,250 against Ansa Finance, located in Toorak, and $16,650 against company manager Joshua Fuoco.

The penalties were levied due to the business’ failure to adhere to compliance notices related to the back payment of five workers and the non-issuance of payslips to one worker, with Fuoco implicated in these breaches.

Employed as finance brokers, the affected workers were underpaid for periods spanning from February 2020 to November 2021. The court has also mandated that Ansa Finance rectify the underpayments in full, including interest and superannuation, with the total underpayment estimated over $17,000.

Fair Work Ombudsman Anna Booth stressed the importance of adhering to compliance notices, warning that failure to do so can lead to court-imposed penalties on top of the obligation to back-pay workers.

“The substantial total penalties here are a reminder to all employers of what they risk when compliance notices are not followed – we will pursue enforcement through court action,” Booth said.

The investigation by the FWO was prompted by requests for assistance from the affected workers, leading to the issuance of five compliance notices to Ansa Finance across 2021 and 2022. The notices demanded rectification of underpayments concerning minimum wages, leave entitlements, and end-of-employment payments under relevant industry standards and laws.

Judicial findings and future deterrence

Judge Jonathan Forbes highlighted the deliberate nature of the failures to comply with compliance notices, criticising Ansa Finance and Fuoco for prioritising their interests over employees’ rights. Forbes pointed out the absence of remorse and corrective actions from the defendants, stressing the seriousness of the misconduct and its impact on both the ombudsman and the court.

In his rulings, the judge underscored the need for penalties to serve as a deterrent against similar future contraventions by Ansa Finance, Fuoco, and other employers.

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