Author Archives: ETE

The National Anti-Scam Centre will coordinate an investment scam fusion cell to combat the growing problem of investment scams, which are costing Australians more than $1 billion a year. The fusion cell will be led by the ACCC and ASIC and include representatives from the banks, telecommunications industry and digital platforms. It will be the […]

Mr Philip James Bart, Mr Geoffrey Thomas Parker and Mr Ronald George Johnson, the former Chair, Chief Executive Officer and Chief Financial Officer of Bruck Textile Technologies Pty Ltd (Bruck Textile) respectively, have been committed to stand trial on criminal charges. They were committed for trial following a hearing before the Melbourne Magistrates’ Court on […]

Stephen Robert Allen, the sole director of K.H.N Holdings Pty Ltd trading as Alkemade & Associates, has been charged on indictment in the County Court of Victoria in Melbourne with criminal offences for falsifying the signatures of registered company auditors on multiple documents. Mr Allen has been charged with contravening s83A(1) of the Crimes Act […]

ASIC has accepted a court-enforceable undertaking from former Acquire Strategic Advisers Pty Ltd director and financial adviser, Gregory Blackaby, from Brisbane, Queensland. ASIC’s investigation revealed that Mr Blackaby failed to keep adequate and up-to-date records to show he had provided clients with services they were entitled to under ongoing service arrangements. Under the terms of […]

ASIC has cancelled the Australian financial services (AFS) licence of APBG Capital Pty Ltd (APBG Capital). The license authorised APBG Capital to deal in interests in managed investment schemes and provide general financial advice to wholesale clients. ASIC cancelled the license because APBG Capital has ceased to carry on a financial services business. APBG Capital […]

ASIC has permanently banned Trevor William King, a former Sydney credit broker, from engaging in any credit activities and from providing any financial services, after he was convicted of fraud offences. Mr King part-owned and operated two credit brokerage businesses, JT King Finance Pty Ltd (JT King) and Australia Enterprises Pty Ltd (Australia Enterprises), which […]

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 company he was the sole […]

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 to result in distribution conduct being […]

As outlined in ASIC’s Corporate Plan 2022-26, ASIC is committed to work on development of an innovative solution to identify and assess poor market disclosure by listed companies. As part of the Business Research and Innovation Initiative (BRII) Regulatory Technology (RegTech) Round, ASIC is excited to work with Eastern Analytica Pty Ltd (trading as DHI-AI […]

ASIC has signed a new Memorandum of Understanding (MoU) with the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA), regarding mutual assistance in the supervision and oversight of offshore oil and gas companies in Australia. Through the MoU, ASIC and NOPSEMA express their willingness to cooperate with each other in the interest of fulfilling […]