Author Archives: ETE

Mining exploration company Condor Blanco Mines Limited (ACN 141 347 640) has been fined $100,000 for failing to lodge five annual financial reports with ASIC. The company, which was delisted from the ASX on 28 August 2018 after failing to pay its annual listing fee, failed to appear before the Downing Centre Court on 19 […]

Mr Arunesh Narain Maharaj, of Sydney, New South Wales, the former Chief Executive Officer of stockbroking firm BBY Limited (BBY), has appeared in the Downing Centre Local Court charged with aiding, abetting, counselling or procuring fraud. ASIC alleges that Mr Maharaj aided, abetted, counselled or procured offences by another former BBY employee, who, by deception, […]

ASIC has made ASIC Credit (Amendment) Instrument 2023/675, which extends the operation of ASIC Credit (Electronic Precontractual Disclosure) Instrument 2020/835 for a temporary period of 12 months until 1 October 2024, pending law reform. In September 2023, the Parliament passed the Treasury Laws Amendment (2023 Law Improvement Package No. 1) Bill 2023 to move exemptions […]

ASIC has made ASIC Corporations (Financial Reporting by Stapled Entities) Instrument 2023/673. The instrument continues the relief previously provided under ASIC Class Order [CO 13/1050] Financial reporting by stapled entities, which was subject to sunsetting on 1 October 2023. Under the Legislation Act 2003, legislative instruments cease automatically, or ‘sunset’, after 10 years, unless they […]

We issued 146 alerts about cryptoasset promotions on the first day of the new regime. We expect businesses including social media platforms, app stores, search engines, domain name registrars and payments firms to consider the alerts we have issued and play their part in protecting UK consumers from illegal promotions. Consumers should check the Warning […]

As we transition to a low emissions economy, financial markets will increasingly want better information on how companies plan to adapt their business models, their operations and their products and services. Climate transition plan disclosures deliver this information. The TPT Disclosure Framework provides a set of good practice recommendations to help companies across the economy […]

NSW director Gary Cutcliffe has been convicted after pleading guilty on 22 September 2023 to five offences of falsification of company books in contravention of s1307(1) of the Corporations Act 2001. Mr Cutcliffe was released without sentence after entering into a recognizance release order to be of good behaviour for 18 months and paying a […]

We previously set out our expectations of firms in the Temporary Permissions Regime (TPR). If they missed their landing slot or failed to apply by 31 December 2022, we expected them to voluntarily cancel their temporary permissions. If this did not happen, we would act to cancel a firm’s permissions as the TPR should only be used by […]

Our actions mean that London Court Ltd cannot conduct regulated activities for either new clients or new investments. It can however provide bond administration and ISA management services to existing clients and investments they already hold. Why have we taken this action? We are concerned that London Court Ltd has inadequate systems and controls in […]

Mr Dean George Scook, of Victoria Park, Western Australia has appeared in the Perth Magistrates Court charged with eleven counts of stealing as an officer of a company. ASIC alleges that on eleven occasions between 22 August 2018 and 24 June 2019, Mr Scook stole funds totalling $675,196 from Rock Mining Australia Pty Ltd. ASIC […]