ASIC

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

Offence referrals by liquidators

Offence referrals to ASIC by liquidators continue to be contentious and perhaps distracted by the issue of claimed automated decision-making

Slow pace of litigation and incomprehensible laws

Former Federal Court judge Steven Rares is reported in the AFR[1] as having made several comments about the justice system

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

Offence reporting by insolvency practitioners

What is said to be the limited response by ASIC to corporate misconduct reports by liquidators is the subject of

Cancellation of a liquidator’s registration

While England is still deciding whether to change its system of insolvency practitioner regulation from one of co-regulation by professional

Principles of Regulation of Insolvency Practitioners – an international standard

This comment was issued in October 2018; it is re-issued in May 2023, but not updated, for interest. The rather

Now we have three Part 5.3B restructuring practitioners

One more person has been appointed as a restructuring practitioner to conduct administrations under Part 5.3B of the Corporations Act

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

Liquidator discipline outcome – reasons unknown

A discipline committee has cancelled the registration of a liquidator but declined to publish its reasons for doing so. ASIC

Penalties imposed on debt agreement administrator for false and misleading, threatening and coercive conduct against debtors

ASIC has succeeded in obtaining penalties against A & M group for false and misleading threatening and coercive conduct against

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

International insolvency regulators’ conference – some current comparative issues

The International Association of Insolvency Regulators’ Annual Conference was held in England from 26-29 September 2022.  Australia’s reported contribution to

Reprimand and more for a liquidator – that’s about as much as we know

By a media release ASIC has reported that a disciplinary committee has decided to reprimand a liquidator, Nicholas Crouch, under

Association of Independent Insolvency Practitioners’ Third National Insolvency Conference

“Are you ready to rumble” in the insolvency jungle was the opening question at the Association of Independent Insolvency Practitioners

Insolvency practitioner [over]-regulation in Australia – an update

While the UK is reviewing its insolvency practitioner (IP) co-regulation system, Australia’s direct regulation, with minimal but expansive co-regulation, might

The UK’s Technical Guidance for Official Receivers – a published resource for Australian practitioners and regulators

The Insolvency Service in the UK has issued an updated version of its Technical guidance for Official Receivers[1] in administering

Insolvency developments in the 2018-19 annual reports – ASIC, AFSA, AGD and ATO

Annual reports nowadays are more marketing publications as to various achievements of the relevant agencies and their compliance with statutory

ASIC’s period of external scrutiny

The Australian Securities and Investments Commission is properly subject to parliamentary oversight, apart from the on-going scrutiny it receives from

How to become an insolvency practitioner in Australia

The ‘new’ process of selecting by interview who should be an insolvency practitioner (IP) was the subject of a presentation

Some views on ASIC v Wily & Hurst

The views of Justice Brereton of the NSW Supreme Court have not prevailed following the decision by the High Court

Treasury Laws Amendment (Measures for a later sitting) Bill 2018: Miscellaneous amendments

The law reform process of going through a piece of legislation and picking up minor errors is useful and necessary