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ASIC’s annual report 2023-2024 – Chapter 5 insolvency issues
ASIC has released its 2023-2024 annual report. ASIC annual reports | ASIC. Under s 136(1)(ca) of the ASIC Act 2001, ...
ASIC’s updated guidance on liquidator registration and discipline; AFSA; and the ART
ASIC has released updated regulatory guidance on statutory committee registration and discipline processes, and related issues: see Revised Regulatory Guide ...
ASIC’s civil penalty regime – an academic review
In the midst of a focus on the enforcement activity of ASIC following a critical Senate Committee report,[1] we have ...
ASIC’s revised guidance on insolvency practitioner offence reporting – RG 16
ASIC has issued revised guidance on insolvency practitioner offence reporting obligations – RG 16 External administrators and controllers: Reporting of ...
Splitting ASIC 2024 and the 2010 Senate Committee Report
In the discussions about separating ASIC’s tasks following the July 2024 Senate Economics References Committee report – Australian Securities and ...
Senate report on ASIC’s investigation and enforcement roles – July 2024
The Senate Economics References Committee has issued its Report – Australian Securities and Investments Commission – investigation and enforcement, of ...
ASIC’s review of offence reporting – RG 16
In response to the PJC Report, although a bit premature, ASIC is reviewing its RG 16, on offence reporting obligations, ...
Annual reports 2022-2023: of ASIC – ‘a deliberate strategy of obfuscation so that the public is kept in the dark ….’? and of AFSA
ASIC’s ASIC Annual Report 2022–23 has been released amidst some recent severe criticism of the quality of its annual reports ...
ASIC v Jones [GD Pork] – insolvency practitioner independence and pre-insolvency advice
A court decision concerning insolvency practitioner independence and pre-insolvency advice usefully raises issues recommended for law reform review by the ...
ASIC v Bettles – case dismissed, with costs
ASIC has lost a major Federal Court proceeding brought against a senior and experienced liquidator, Jason Bettles, alleging that his ...
Updates to ASIC insolvency regulatory guides
ASIC is in the process of updating 4 of its regulatory guides on insolvency, in the next few months, and ...
ASIC beleaguered – updated
Updated 29 July 2023. Given the number of current and on-going inquiries into ASIC, it is as if the regulator ...
ASIC’s insolvency law enforcement role
The Senate Economics References Committee is loading up submissions received on its reference into ASIC’s capacity and capability to “undertake ...
ASIC’s report on small business corporate restructurings under Part 5.3B
I am dubious about many of the outcomes touted for insolvency “restructurings”, or at least without the negative outcomes reported ...
The several inquiries into ASIC
There are now several government inquiries into ASIC, directly or indirectly, perhaps indicating either the breadth of ASIC’s remit, or ...
ASIC’s power to wind up abandoned companies – a drop in the ocean?
ASIC has revised its guidance on the exercise of its powers to order the winding up of an abandoned company, ...
Any insolvency remuneration review as sought by ASIC “would be unprincipled and ultimately, wholly pointless”
From the opening paragraphs, one can foresee the outcome of this decision, about ASIC’s “unprincipled and pointless” intervention to deny ...
ASIC’s corporate plan, and the 27 August hearing before the PJC
With ASIC having appeared before the Parliamentary Joint Committee on Corporations and Financial Services on 27 August 2021, ASIC’s Corporate ...
The high cost of ASIC’s regulation of liquidators, in a deregulatory environment
The proposed annual ASIC ‘industry levies’ imposed on liquidators in Australia, to fund the cost of their regulation, prompts this ...
Costs against ASIC in its [“illegal phoenix activity”] claim against a liquidator
ASIC has been unsuccessful in resisting a costs order against it in its “illegal phoenix activity” proceedings against a liquidator ...
Some parliamentary reminders for ASIC’s 2020 annual report
The 1 September 2020 report of the Parliamentary Joint Committee on Corporations and Financial Services on the 2018–2019 annual report ...
Liquidator’s registration cancelled by ASIC
A company liquidator has had her registration cancelled following a decision by a statutory disciplinary committee that she had improperly ...
ASIC’s initial claim of illegal phoenix activity by a liquidator now the subject of a 160 page statement of claim
This post is further updated on 26 February 2021 to reflect that ASIC filed its statement of claim against Mr ...
MYEFO 2019-20 – ASIC, phoenixing and ‘journalists’
The government’s mid-year economic and fiscal outlook 2019-20 has these interesting items about access to ASIC’s registers, unlawful phoenixing and ...
