ASIC Collects A$4.36 Million in 22 Late-Report Notices

By Marcus Bennett

The Australian Securities and Investments Commission (ASIC) collected A$4.36 million from 22 large proprietary companies on Wednesday after alleging that each had missed the deadline for its audited 2025 financial report. The payments equalled about US$3.0 million, with each company paying A$198,000.

ASIC said: “Payment of an infringement notice is not an admission of guilt or liability.” All 22 companies have paid. The regulator contrasted that outcome with most court penalties, which remain unpaid.

The notices form part of ASIC's data-led surveillance program, which began in August 2025. By Wednesday, the program had produced 70 paid notices worth more than A$13.7 million.

How did the surveillance program grow?

ASIC contacted 217 companies in the second half of 2025 and 234 companies this year. The program has expanded rapidly, with 193 of this year's group, or 82%, allegedly failing to lodge their 2025 reports before ASIC contacted them. Since those contacts, 147 companies had filed at least one report.

Three Mainfreight companies had paid A$594,000 earlier in the year. That payment put the running total at 27 notices worth more than A$5 million. FinanceMagnates.com calculated that the latest 22 notices represented nearly one-third of the A$13.7 million collected since August 2025.

Who was in the 22-company group?

The businesses range from footwear and jewelry retailers to builders, property developers and a champagne and spirits distributor. Named companies included:

• Pernod Ricard Pacific Holding
• Ingram Micro Holdings (Australia)
• Menzies Aviation Holdings (Australia)
• Prouds Jewellers

Three of the 22 companies work in finance. Bizcap AU is a non-bank lender. Think Tank Group provides commercial and residential property finance. ASIC described Belgravia Group as active in leisure, clothing sales and financial services.

Why did the reports arrive late?

Commissioner Kate O'Rourke put the duty on the board. “Directors are accountable for ensuring their company meets its financial reporting obligations,” she said.

Companies gave ASIC three main explanations for their delays:

• Audit problems
• Administrative oversight
• A lack of resources

Some companies also said they had not known about the reporting obligation until ASIC contacted them.

What deadlines do large proprietary companies face?

ASIC's rule applies to proprietary companies that meet at least two of three thresholds:

• Consolidated revenue of A$50 million
• Consolidated gross assets of A$25 million
• 100 employees

Those companies generally have four months after the end of their financial year to lodge their financial reports.

For retail over-the-counter derivatives issuers, one late filing would cost more than their annual ASIC levy. The regulator estimated the 2025-26 levy at A$128,388 per entity, about two-thirds of a single infringement notice.

What does this mean for practitioners?

For company secretaries, general counsel, finance teams and directors, the notices make the cost of a missed deadline explicit. They should diarize the four-month filing date, verify audit and filing capacity, and assign board-level oversight. For a retail over-the-counter derivatives issuer, one A$198,000 notice already exceeds the A$128,388 annual ASIC levy.

How large is ASIC's broader enforcement effort?

The A$4.36 million collected in this round is small beside ASIC's record A$830 million in civil penalties in 2025-26. Contracts for differences cases accounted for about 37% of that total.

At June 30, fines and penalties owed to the Commonwealth had reached A$419.5 million. FM Intelligence's review of ASIC's accounts expected the regulator to collect a net A$28.0 million from that total. FM Intelligence's tracker had also recorded 156 enforcement updates across Australian regulators this year as of November 3.

What remains under investigation?

ASIC is still investigating companies that paid infringement notices but have not yet filed their reports. O'Rourke said the surveillance would continue into 2027. Separately, ASIC has won more than A$1.1 million in court fines against three public companies that failed to lodge their financial reports.