ASIC Issues Over $4.3M in Infringement Notices to 22 Companies for Alleged Late Financial Reports

The Australian Securities and Investments Commission (ASIC) has issued infringement notices to 22 large proprietary companies for allegedly failing to lodge their audited financial reports on time for the 2025 financial year, the regulator said.

The notices form part of ASIC's ongoing surveillance and enforcement work focused on financial reporting compliance. Each infringement notice is $198,000, and the 22 companies have paid them in full, totalling $4,356,000.

The companies that received notices are:

• Belgravia Group Pty Ltd (leisure, clothing sales and financial services)

• Bizcap AU Pty Ltd (non-bank lending)

• Coral Homes Pty Ltd (residential construction)

• Directed Electronics Australia Pty Ltd (electronics distribution)

• Downward Spiral Enterprises (Tas) Pty Ltd (museum, hospitality and events)

• East Yarra Friendly Society Pty Limited (pharmacy retail)

• Hemmes Group Pty Limited (hospitality)

• Ingram Micro Holdings (Australia) Pty Limited (information technology)

• Jolimont Development Finance Pty Ltd (civil construction)

• JQZ Holdings Pty Limited (property development)

• JQZ Treasury Pty Limited (property development)

• Magi Enterprises Pty Ltd (fashion retail)

• Menzies Aviation Holdings (Australia) Pty Ltd (airport services)

• Outdoor Adventure Holdings Pty Ltd (bicycle retail and distribution)

• Pernod Ricard Pacific Holding Pty Ltd (champagne and spirits retail)

• Prouds Jewellers Pty Ltd (jewellery and watches retail)

• Spendless Shoes Pty Ltd (footwear retail)

• Swanston Street Holdings Pty Ltd (building and construction)

• The Shoe Group Pty Ltd (footwear retail)

• Think Tank Group Pty Limited (commercial and residential property finance)

• Uhrig Road Development Pty Limited (property development)

• Winslow Constructors Pty Ltd (civil construction)

ASIC noted that payment of an infringement notice does not constitute an admission of guilt or liability.

Since starting data-focused surveillance of large proprietary companies and other entities in August 2025, ASIC has received payment for 70 infringement notices, totalling more than $13.7 million.

In 2026, ASIC engaged with 234 companies across sectors including lending, retail, hospitality, construction, logistics, resources, health, insurance and technology, after contacting 217 companies in the second half of 2025. Of the companies contacted in 2026, 193 (82%) had allegedly failed to lodge financial reports for the 2025 financial year. Following ASIC's queries, 147 companies lodged one or more outstanding reports, most notably in retail, construction and resources, while the remaining companies are in the process of doing so.