ASIC highlights focus areas for 30 June 2023 reporting
ASIC urges directors, preparers of financial reports and auditors to assess the impact of uncertain market and economic conditions on reporting for full and half-years ending 30 June 2023. ASIC Commissioner Danielle Press said, ‘Directors should ensure that investors are properly informed on the impact of changing and uncertain economic...
Gold Coast property developer charged with fraud
Mr Michael David Steele, of NSW, has appeared at Southport Magistrates Court charged with seven counts of fraud. Following an ASIC investigation, it is alleged that between May 2016 and February 2017, Mr Steele misled 14 investors into withdrawing funds from their employer superannuation funds and savings accounts to invest...
ASIC bans two Queensland property investment directors
ASIC has banned the directors of Bugwash Property Pty Ltd, Mr David Bugeja and Mr Brian Washbourne from providing any financial services and being involved in carrying on such a business for a period of six years. Mr Bugeja and Mr Washbourne, both Queensland-based directors, set up Bugwash Property in...
ASIC cancels registration of a further 29 SMSF auditors
ASIC has cancelled the registration of a further 29 auditors of self-managed superannuation funds (SMSFs) who failed to lodge their annual statements. This is in addition to the cancellation of 374 SMSF auditors in January 2023 (23-012MR) and 10 SMSF auditors in May 2022 (22-121MR), as part of ASIC’s current...
Former Berndale directors charged over dishonest conduct, misuse of company funds
Two former directors of collapsed retail over-the-counter derivatives provider Berndale Capital Securities Pty Ltd have been charged with dishonesty offences, including misusing over $1 million in company funds. ASIC alleges that Stavro D’Amore and Daniel Kirby each unlawfully transferred Berndale company funds to benefit themselves and other associates and entities....
ASIC acknowledges ASX’s release of the CHESS Special Report and Audit Report
Today, ASX released public versions of the Special Report and the Audit Report on the current CHESS clearing and settlement system. Following ASX’s announcement to pause the CHESS Replacement Program in November 2022, ASIC and the Reserve Bank of Australia (RBA) (the regulators) took action to ensure that all necessary steps are taken to support...
ASIC Chair’s AFR ESG Summit speech
Speech by ASIC Chair Joe Longo at the AFR environmental, social, and governance (ESG) Summit, 5 June 2023. Check against delivery Over two centuries ago, Honoré-Gabriel Riqueti, Count of Mirabeau, wrote that ‘If honesty did not exist, we ought to invent it, as the best means of getting rich.’ Updating this for the...
Director duties charge proved and dismissed against former Victorian director
A charge brought against former company director Mr Pardeep Sehgal of Craigieburn Victoria for breaching his director duties has been proven but dismissed. An ASIC investigation found that in April 2018, Mr Sehgal caused two payments totalling $55,099.33 that was owed to Sehgal Catering Services Pty Ltd (in Liquidation), a...
ASIC suspends AFS licence of Lantern RE Ltd
ASIC has suspended the Australian financial services (AFS) licence of Lantern RE Ltd (Lantern) until 29 May 2024. The licence authorises Lantern to deal in interests in managed investment schemes and provide general financial product advice to wholesale and retail clients. Lantern is the responsible entity of the registered management...
ePayments Code subscribers to comply with updated Code from today
The updated ePayments Code takes effect from today. This follows a 12-month transition period to allow subscribers time to get ready for, and ensure compliance with, changes providing clarity on a number of existing protections for consumers (see 22-215MR). Subscribers to the code include most banks and credit unions in Australia,...
ASIC halts offer of Spaceship Super and Spaceship Voyager Funds
ASIC has made interim stop orders on one superannuation product and three managed funds promoted by Spaceship Capital Limited (Spaceship Capital) due to deficiencies in their target market determinations (TMDs). The funds are: Spaceship Super, a sub-plan of Tidswell Master Superannuation Plan, issued by Diversa Trustees Limited (Diversa), Spaceship...
ASIC issues first DDO stop order for failure to take reasonable steps in CFD distribution
ASIC has made an interim stop order preventing Mitrade Global Pty Ltd (Mitrade) from opening trading accounts or dealing in contracts for difference (CFDs) or margin foreign exchange contracts (margin FX) to retail investors. ASIC’s action was in response to concerns that Mitrade failed to take reasonable steps likely...
Regulator Name: Australian Securities and Investments Commission
SEC.gov | HOME
The Ombudsman will listen to your inquiries, complaints, and issues, review the information you provide, and help identify procedures, options, and resources.
SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency
Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program. The Securities and Exchange Commission today charged Coinbase, Inc.
ESMA publishes follow-up report to the peer review on the Guidelines on ETFs and other UCITS issues
See the content published by the European Securities and Markets Authority (ESMA) here: Read more
Deputy Director General Jyri Helenius assigned as Head of Director General’s Staff at Financial Supervisory Authority
The Board of the Financial Supervisory Authority (FIN-FSA) has assigned Deputy Director General Jyri Helenius to handle the duties of the Head of Director...