The Australian Securities and Investments Commission (ASIC) has taken enforcement action against 22 “large proprietary companies” over alleged delays in submitting their audited accounts for 2025 financial year.
The companies paid A$198,000 ($138,884) each against their infringement notices.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
However, ASIC said payment of a notice does not constitute an admission of guilt or liability.
The companies involved are Belgravia Group, Bizcap AU, Coral Homes, Directed Electronics Australia, Downward Spiral Enterprises (Tas), East Yarra Friendly Society, and Hemmes Group.
They also include Ingram Micro Holdings (Australia), Jolimont Development Finance, JQZ Holdings, JQZ Treasury, Magi Enterprises, and Menzies Aviation Holdings.
The list also includes Outdoor Adventure Holdings, Pernod Ricard Pacific Holding, Prouds Jewellers, Spendless Shoes, Swanston Street Holdings, The Shoe Group, Think Tank Group, Uhrig Road Development, and Winslow Constructors.
ASIC said it may continue investigating companies that have paid infringement notices but have not yet met all of their financial reporting obligations.
The action forms part of ASIC’s data-led surveillance of large proprietary companies and other entities, which began in August 2025.
Since then, the regulator has received payments for 70 infringement notices worth more than A$13.7m.
In 2026, ASIC contacted 234 companies from sectors including lending, retail, hospitality, construction, logistics, resources, health, insurance, and technology.
It had previously engaged with 217 companies during the second half of 2025.
ASIC said 147 companies subsequently lodged one or more outstanding reports, particularly among retail, construction, and resources businesses. The rest are in the process of doing so.
Audit issues, administrative oversight, and limited resources were among the reasons companies gave for failing to lodge reports.
ASIC Commissioner Kate O’Rourke said: “Timely financial reporting gives shareholders, creditors and others dealing with a company important information about its financial position and performance, helping them make informed decisions.
‘Our enforcement actions over the past year sends a clear message – companies must meet their financial reporting obligations and should not assume that non-compliance will go undetected. We will continue our data-focused surveillance into 2027 and will not hesitate to take further enforcement action.”
