Author Archives: ETE

Former director Mudasir Mohammed Naseeruddin has been sentenced to a total prison sentence of 4 years and 4 months for dishonest conduct and other charges. He will serve a non-parole period of 2 years and 9 months. The sentence was handed down after Mr Naseeruddin pleaded guilty to two charges of dishonest conduct in the […]

ASIC has commenced civil penalty proceedings in the Federal Court against Open4Sale Global Ltd (Open4Sale Global) and two of its directors, Simeon La Barrie and Ewald Hafer, for allegedly offering shares in the company and distributing application forms without the required disclosure document. ASIC alleges that over a four-year period between March 2019 and July […]

Former registered liquidator Peter Andrew Amos appeared in the Downing Centre Local Court on 19 December 2023 charged with six counts of dishonestly using his position as an officer of a company to gain an advantage for his business and himself contrary to s184(2)(a) of the Corporations Act. Mr Amos was a registered liquidator and […]

ASIC’s latest annual statistics of reports lodged by registered liquidators about Australian corporate insolvency, released today, has highlighted the lag of the impact of the COVID-19 pandemic on small business. For the period 1 July 2022 to 30 June 2023, small to medium size corporate insolvencies continued to dominate external administrators’ reports. Of the reports […]

ASIC has permanently banned Delan Pagliaccio of Hope Island, Queensland from providing any financial services, controlling an entity that carries a financial services business and performing any function involved in the carrying on of a financial services business. Mr Pagliaccio was the sole director of Veridian Securities Pty Ltd (deregistered), Veridian Markets Pty Ltd (undergoing […]

ASIC has taken action for greenwashing against Northern Trust Asset Management Australia Pty Ltd (Northern Trust). Northern Trust has paid $29,820 to comply with two infringement notices issued by ASIC regarding concerns about alleged false and misleading statements about the application of a Carbon Emissions Exclusion Screen. Northern Trust is the Investment Manager of the […]

The draft legislation includes amendments that will change the exam to: Remove the short answer questions from the exam and increase the number of multiple-choice questions. Remove the requirement that only provisional relevant providers and existing advisers can sit the exam. To allow sufficient time to implement required changes to the exam and ensure all […]

ASIC urges directors, preparers of financial reports and auditors to assess the impact of uncertain market and economic conditions when reporting for full and half-years ending 31 December 2023. Key findings in ASIC’s first integrated financial reporting and audit surveillance report (Report 774 Annual financial reporting and audit surveillance report 2022–23) form the basis for […]

Former Brisbane-based financial adviser Kristofer Ridgway has appeared at the Southport Magistrates Court in Queensland charged with two counts of providing false or misleading information to ASIC during the conduct of a compulsory examination, contrary to section 64(1) of the Australian Securities and Investments Commission Act 2001 (Cth). It is alleged that Mr Ridgway provided […]

Ms Janet Heather Cameron, of Hobart, Tasmania, has been found guilty in the Hobart Magistrates Court of one count of failing to lodge a substantial holder notice regarding her interests in Bellamy’s Australia Limited (Bellamy’s) and one count of making a false and or misleading statement. The Court found that in August 2014, Ms Cameron […]