For offences under s 1041G of the Corporations Act 2001 involving dishonest conduct in financial services, the absence of direct financial benefit to the offender does not preclude a finding of high objective criminality or the imposition of full-time custody. The sentencing court must determine an appropriate sentence for each offence before considering questions of cumulation, concurrence and totality in accordance with Pearce v The Queen. In the context of financial services, the risk to investors from breach of trust is equally significant whether the dishonesty is that of a senior executive or a subordinate employee.
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