Regulatory enforcement actions

AUSTRAC has begun issuing infringement notices after identifying businesses that failed to enrol with AUSTRAC as required under Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.

Furniture retailer, The Sleeping Giant Pty Ltd trading as James Lane, and children’s play equipment retailer, Systems Operations Pty Ltd trading as Vuly Play Group, have each paid penalties after the ACCC issued the retailers with infringement notices for allegedly making misleading representations to consumers about the duration of their Black Friday sales.

Former Queensland property developer, Ian Omar Chester has been sentenced to 9 years imprisonment for aggravated * fraud following an ASIC investigation into multiple Southeast Queensland property development companies.

Furniture retailer, The Sleeping Giant Pty Ltd trading as James Lane, and children’s play equipment retailer, Systems Operations Pty Ltd trading as Vuly Play Group, have each paid penalties after the ACCC issued the retailers with infringement notices for allegedly making misleading representations to consumers about the duration of their Black Friday sales.

ASIC has disqualified former Queensland resident Yuetu Ma (also known as Jack Ma) from managing corporations for four years arising from his role as a director of failed companies Warwick Gold Holdings Pty Ltd and Impact Gold Ltd.

Richard Evans (also known as Richard Evertz), the former chief executive officer of collapsed ASX-listed technology company Big Un Limited (Big Un), has today been convicted and sentenced in the District Court of New South Wales for communicating inside information to another person.

A Victorian timber wholesaler and importer, Bayswood Timber Wholesalers Pty Ltd, has paid a penalty of $19,800 for making allegedly false or misleading statements about the suitability of its timber to be used in certain building applications in defined bushfire-prone areas.

Questacon (a division of DISR) supplied alcohol-based hand sanitiser near plasma globe exhibits; a child visitor's hands caught fire after touching a globe in July 2022. The release says it was the sixth incident involving the globes in five months and earlier warnings were not adequately acted on.

Digital Imaging Express Pty Ltd, trading as digiDirect, has paid $99,000 in penalties after the ACCC issued it with five infringement notices for making allegedly misleading discount claims.

Fundo Loans Pty Ltd has paid a $19,800 infringement notice issued by ASIC over an allegedly misleading claim on its website that it offered ‘no credit check loans’ of up to $5,000.

Under the motor vehicle service and repair information scheme, Mazda did not offer its pre-2019 diagnostic (IDS) information in a form all repairers could reasonably access. It also told at least 74 independent repairers that an annual subscription was the only option, when the scheme requires day, month and year access options.

The Companies Auditors Disciplinary Board ( CADB ) has suspended the registration of Brisbane company auditor Cameron Bradley, formerly a partner of PKF Brisbane Audit ( PKF Brisbane Audit ), until 30 June 2028. The suspension comes into effect on 15 September 2026.

On 21 January 2023 a worker was seriously injured using a grain mill to prepare cattle feed.

REA's subscription, depth and sponsorship contracts pushed agencies to list all or most of their properties on realestate.com.au, or to buy premium listing tiers. The ACCC was concerned this may have stopped rival listing portals from competing meaningfully.

ASIC has cancelled the registered agent status of Mr Faheem Ahmed Syed, the sole director and shareholder of AGFA Accountants Pty Ltd for breaches of ASIC’s Registered Agent Terms and Conditions.

ASIC has accepted Ross Stephen Thomson’s application for cancellation of his registration as a liquidator, after raising concerns about whether he was a fit and proper person to remain registered and whether he had adequate resources to satisfactorily perform his duties and functions as a registered liquidator.

Online retailer Dysck Pty Ltd, trading as Neptune Blanket, has paid $59,400 in penalties after the ACCC issued it with three infringement notices for making allegedly misleading statements to two consumers about their rights, and not including mandatory wording in its warranty against defects.

ASIC has issued six infringement notices totalling $118,800 to trustees of three superannuation funds after identifying alleged false or misleading representations about their superannuation investment options during a review of disclosures on superannuation trustees’ websites.

ASIC has issued six infringement notices totalling $118,800 to trustees of three superannuation funds after identifying alleged false or misleading representations about their superannuation investment options during a review of disclosures on superannuation trustees’ websites.

ASIC has issued six infringement notices totalling $118,800 to trustees of three superannuation funds after identifying alleged false or misleading representations about their superannuation investment options during a review of disclosures on superannuation trustees’ websites.

The Federal Court has found that Choosi Pty Ltd misled consumers in relation to its funeral and life insurance comparison services.

ASIC has cancelled the Australian financial services (AFS) licence of NSW-based financial services provider, Redstone Capital Pty Ltd (Redstone Capital).

Former Western Australian director Joanne Pellew has been sentenced in the District Court of Western Australia for dishonestly using her position as a director and for managing a corporation while disqualified.

Wrong classifications and missed increments led to underpaid overtime, shift loadings and minimum engagement for professional staff, and underpaid casual academic rates (2015-2025). Murdoch self-reported in March 2022.

The Federal Court has imposed a penalty of $3.5 million against Venture 5 Group Pty Ltd (trading as CashnGo) regarding its use of, and reliance on, unfair contract terms in more than 47,000 standard form small amount credit contracts (SACCs) with consumers.

Kristian John Convery of Melbourne was today convicted and sentenced by the Melbourne Magistrates Court after pleading guilty to acting as a self-managed superannuation fund (SMSF) auditor while disqualified and falsifying audit documents.

Payroll configuration errors and clerical oversights meant UQ breached its 2014, 2018 and 2021 enterprise agreements (minimum engagement, casual pay codes, PhD rates, unrecorded overtime) between 2017 and 2026. FWO called it the 15th university EU.

A pedestrian was fatally struck by a reversing reach stacker (container-handling mobile plant) on 21 April 2022. The company was convicted after a defended hearing.

Alexander John McCulloch, a former project manager at Beacon Minerals Limited (Beacon Minerals), has been convicted and sentenced to 12 months’ imprisonment for insider trading, to be released forthwith on a recognisance of $5,000 and to be of good behaviour for 2 years.

The Federal Court has found that dating site eHarmony made misleading representations to consumers about the pricing, renewal and duration of its online dating memberships in statements online and in its app, in proceedings brought by the ACCC.

Hire equipment provider whose technician serviced the boom lift the morning of the fatal North Blackburn incident. It should have identified the disconnected operator protection alarm and withdrawn the lift from use.

ASIC has cancelled the registered agent status of Financial Tuneups Pty Ltd for breaches of ASIC’s Registered Agent Terms and Conditions.

A plumbing company's worker was crushed against an overhead steel frame while in a boom lift at a North Blackburn site in August 2023 and died. No spotter was used and the boom lift's operator protection alarm was disconnected; the company lacked a daily pre-start inspection system.

Trustee of the Netwealth Superannuation Master Fund. Before offering First Guardian to members, it did not gather and assess enough information or make enough independent enquiries about the fund's risks. It also did not warn members that the fund might be illiquid.

The Federal Court has today dismissed an appeal by retailer Fewstone Pty Ltd, trading as City Beach, against a $14 million penalty for selling non-compliant button battery products, in proceedings brought by the ACCC.

Building and maintenance company; on 23 October 2023 a worker fell about three metres through a skylight void and was seriously injured.

ASIC has disqualified Alan MacDonald of Bankstown, New South Wales from managing corporations for the maximum period of five years due to his involvement in the failure of the following three companies:

Debt collection company Marshall Freeman Collections Pty Ltd has paid $59,400 in penalties after the ACCC issued it with three infringement notices in relation to its debt collection activities, and has provided a court enforceable undertaking to the ACCC.

The company had workers clean up and demolish its former Brompton facility (Dec 2021 - Feb 2023) knowing asbestos was present; friable asbestos was disturbed. Removal was done without a licence, removal areas, air monitoring or clearance inspections.

WORLDWIDE MONEY TRANSFER PTY LTD appears on AUSTRAC's list of virtual asset registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.

Fiducian Investment Management Services Limited (FIMS) has been ordered to pay a $7.3 million penalty for breaching its duty to act with care and diligence as a responsible entity and engaging in conduct liable to mislead the public.

ASIC has issued infringement notices totalling $594,000 to three companies within supply chain logistics operator Mainfreight Group for allegedly failing to lodge their financial reports for the financial year ended 31 March 2025 on time.

AUSTRAC has suspended Cryptolink Pty Ltd’s registration amid ongoing concerns about its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) obligations.

ASIC has suspended the Australian financial services (AFS) licence of Central Accord Pty Ltd (AFS licence 226405) until 4 February 2027. The suspension took effect on 30 July 2026.

ASIC has issued infringement notices totalling $594,000 to three companies within supply chain logistics operator Mainfreight Group for allegedly failing to lodge their financial reports for the financial year ended 31 March 2025 on time.

ASIC has issued infringement notices totalling $594,000 to three companies within supply chain logistics operator Mainfreight Group for allegedly failing to lodge their financial reports for the financial year ended 31 March 2025 on time.

During decommissioning of Torrens Island A Power Station (Oct 2022 - Apr 2023) workers cut lead-covered cables without respiratory protection; five employees later showed elevated blood lead levels.

ASIC has suspended the Australian financial services licence (AFS) of CFD issuer GFA Capital Markets Ltd (GFA) for five months after finding multiple client money, reporting obligation and compliance failures.

Former sole director of Equitable Financial Solutions Pty Ltd (in Liquidation), Usman Siddiqui, has been sentenced in the District Court of NSW for dishonestly using his position as a director.

The coal miner did not pay out accrued personal leave and allowance components to employees made redundant under the Black Coal Mining Industry Award (2016-2023), across 14 Qld and NSW mine sites. It self-reported after a related APESMA court case.

Former CEO and director of FAL Healthy Beverages Pty Ltd, Tim Xenos, of Peakhurst, NSW, has been resentenced following his successful appeal against one aspect of his conviction.

In September 2023 an unattended truck and tipper parked on a slope without the park brake rolled off an Adelaide Hills site into an industrial building, narrowly missing a worker. The park-brake warning alarm had been disabled and two service reports flagging it were not acted on.

ASIC has disqualified Antonio Torcasio of Melbourne, Victoria, from managing corporations for the maximum period of five years due to his involvement in the failure of the following eight companies:

ASIC has cancelled the Australian credit licence of Zenoz Enterprises Pty Ltd effective from 3 July 2026.

Residential retailers had to have a Solar Sharer Offer (a standing offer that includes a free-usage window) available by 1 July 2026. EnergyAustralia told the ACCC in late June that it would miss that date and only offered it from 3 August 2026.

The Federal Court of Australia has permanently disqualified former director Larry Dawson of NSW from managing corporations after finding that he had breached his directors’ duties.

The Federal Court today imposed penalties of $35 million against Harvey Norman Holdings Ltd and $20 million against Latitude Finance Australia for misleading conduct and false or misleading representations they made in a national advertising campaign promoting a 60-month interest free and no deposit payment method for goods purchased at Harvey Norman stores.

The Federal Court today imposed penalties of $35 million against Harvey Norman Holdings Ltd and $20 million against Latitude Finance Australia for misleading conduct and false or misleading representations they made in a national advertising campaign promoting a 60-month interest free and no deposit payment method for goods purchased at Harvey Norman stores.

Steel subcontractor on the Kew Recreational Centre job that outsourced fabrication of the GT1 truss to a China-based firm without having welding/QA documents verified before erection. The truss failed and part of the building collapsed in October 2022. Company now in liquidation; sentenced ex parte after a guilty finding.

Former Berndale Capital Securities Pty Ltd (Berndale) director Stavro D’Amore will serve 23 months in prison as part of a three-year and ten-month total effective sentence handed down by the Federal Court for multiple dishonesty offences committed between 2017 and 2018.

Former finance director Brendan Gunn has been sentenced in the Local Court of NSW for dealing with over $180,000 when it was reasonable to suspect that those funds were proceeds of crime.

Former director Vickie Anne Vella who used over $1.2 million of company funds for her personal use, has been sentenced to 18 months imprisonment in the NSW District Court to be served by way of an Intensive Corrections Order.

The Federal Court has found that former Noumi Limited managing director and chief executive officer, Rory Macleod, contravened the Corporations Act in relation to Noumi’s financial reporting for the year ended 30 June 2019 on a limited basis, and the half-year ended 31 December 2019.

ASIC has cancelled the registered agent status of Registry Australia Pty Ltd for breaches of ASIC’s Registered Agent Terms and Conditions.

Recruitment firm Hudson Global Resources (Aust) Pty Ltd has been fined $270,000 for failing to meet its financial reporting obligations as a large proprietary company.

Alsultan General Trading Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.

ASIC has suspended the Australian financial services ( AFS ) licence of Prime Value Asset Management Limited ( Prime Value ) until 7 August 2026.

Venue Smart Pty Ltd paid an infringement notice issued by the ACCC for alleged contravention of Section 61(3) of the Competition and Consumer (Industry Codes-Franchising) Regulation 2024.

WealthHub Securities Limited (WealthHub), an online broker owned by National Australia Bank (NAB), has been fined $1.055 million by the Markets Disciplinary Panel (MDP) relating to failures to accurately report regulatory data more than 9.5 million times over a 10-year period.

The Federal Court has ordered that First Mutual Private Equity Pty Ltd ( First Mutual ) and the unregistered managed investment scheme operated by it and Gregory Raymond Cotton ( Mr Cotton ) be wound up, following an application by ASIC.

Multinational investment bank Deutsche Bank Aktiengesellschaft (Deutsche Bank) has paid a penalty of $2 million for misreporting more than 260,000 over-the-counter (OTC) derivative transactions, undermining the accuracy of data used to monitor Australia’s financial markets.

ASIC has disqualified Queensland director David Shane Fanning from managing corporations for the maximum period of five years due to his involvement in the failure of four companies.

ASIC has cancelled the Australian financial services (AFS) licence of CAIP Services Pty Ltd effective from 8 July 2026.

ASIC has cancelled the Australian financial services (AFS) licence of contracts for difference (CFD) issuer Trive Financial Services Australia Pty Ltd (Trive), effective 1 July 2026.

The Federal Court has ordered JustAnswer LLC to pay penalties of $10 million for making misleading representations to consumers about the cost of its online question and answer service, and making misleading claims that it was approved or affiliated with the Fair Work Ombudsman when this was not the case, in proceedings brought by the ACCC.

AUSTRAC will require online bookmaker, bet365, to strengthen its anti‑money laundering controls after identifying serious gaps in how it manages risk and reports suspicious activity.

AUSTRAC has finalised its enforceable undertaking with Sportsbet Pty Ltd (Sportsbet) after the company addressed serious deficiencies in its anti-money laundering and counter-terrorism financing (AML/CTF) controls.

UNSW admitted underpaying casual academics and some professional staff under its enterprise agreements from 2014 to 2023 and breaching record-keeping and pay slip rules. FWO cited record-keeping failures, poor governance and payroll deficiencies.

The Federal Court has ordered ASX Limited (ASX) to pay a $20.5 million penalty for its misleading statement about the progress of its CHESS replacement project.

A young worker wearing gloves was injured in September 2022 when the gloves became entangled in the rotating chuck of a drill press. The undertaking was given jointly by the company and its director as officer.

Lactalis Australia Pty Ltd has paid $59,400 in penalties after the ACCC issued it with three infringement notices for allegedly making false or misleading representations in the labelling of two of its milk products.

ASIC has cancelled the Australian financial services licence (AFS licence) of Australian Fiduciaries Limited (In Liquidation) (Australian Fiduciaries) following a payment by the Compensation Scheme of Last Resort (CSLR).

Farm business; in February 2023 a worker riding a quad bike hit a mound at speed and was fatally injured.

At a Thebarton demolition site in November 2023 an excavator bucket swung and crushed the foot of a worker sorting debris nearby, causing amputations. Exclusion zone, spotter and communication controls in the SWMS were not enforced.

ASIC has cancelled the Australian Financial Services (AFS) licence of Capital Guard AU Pty Ltd (Capital Guard) after finding that it had engaged in dishonest conduct including the selling of a fake bond and providing false documents to its auditor.

Former MWL Financial Services Pty Ltd (MWL) financial adviser Christian Henry has been banned from providing personal financial advice, controlling an entity that carries on a financial services business or performing any function involved in the carrying on of a financial services business for three years.

Online travel agency Vacaciones eDreams, S.L, trading as eDreams, has paid $59,400 in penalties after the ACCC issued it with three infringement notices for allegedly making misleading pricing claims about its subscription-based memberships and failing to prominently display the total cost of an annual subscription.

The Federal Court has ordered Mercer Super pay penalties totalling $10.3 million for systemic failures to report investigations into significant member services issues to ASIC, including an investigation into insurance premiums continuing to be charged after members had died, and only refunded later.

HSK United Pty Ltd, which operates the websites Pain Free Aussies and Modern Aussies, has paid $79,200 in penalties after the ACCC issued it with four infringement notices for alleged breaches of the Australian Consumer Law.

Transport firm supplying trucks and drivers to a Dandenong South commercial laundry. In June 2023 a driver fell about 1.2 m from a truck tailgate used as a loading bridge and died; the tailgate had no fall protection rails.

Trading as Centenary Bakehouse, the company had workers remove suspended insulation panels from a bakery roof space in Reservoir with no fall controls; harnesses were on site but not required. A worker fell about four metres in August 2021 and died. Second workplace manslaughter prosecution in Victoria; largest fine for a single offence under Victoria's workplace safety laws.

CDU breached its 2013, 2018 and 2022 enterprise agreements for casual professional and academic staff (rates, penalties, minimum engagement, overtime) between 2016 and 2022. A decentralised payroll and poor configuration were blamed.

In May 2019 contractors moving a roughly three-tonne coin blanking press by forklift let it topple, narrowly missing a worker. CDPP had filed three charges alleging no safe system of work and an inadequate SWMS for the contractor; the undertaking was accepted instead of prosecution.

Theme park operator (formerly Ardent Leisure Limited). Two alleged maintenance incidents: in November 2020 ride arms rolled off trestles in a workshop, and in February 2021 a ride arm rose uncontrollably to four metres while a gondola was being disconnected. No injuries.

Doreen Egg Aust Pty Ltd has paid $39,600 in penalties after the ACCC issued two infringement notices for alleged false or misleading claims that its eggs were free-range.

Steel erector on a Malaga industrial site; in July 2024 a non-rated, non-compliant lifting lug failed and a suspended steel column fell on a rigger, killing him. Directors knew the lug was unrated but kept it in use. Highest fine ever under WA workplace safety laws.

ASIC has made an order banning Brett Anthony Newbound and cancelling the Australian financial services (AFS) licence and Australian credit licence (ACL) of Freedom Wealth Services Pty Ltd.

WeFlex Pty Ltd, a fitness support company that is an NDIS provider, has paid a penalty of $19,800 after the ACCC issued it with an infringement notice for allegedly making a misleading statement about NDIS funding in a social media advertisement.

The Federal Court has sentenced the former CEO of AI marketing company Metigy Pty Ltd (Metigy), David Fairfull, to nine years’ imprisonment following an ASIC investigation into misleading conduct and the misuse of company funds.

ASIC has made an order banning Brett Anthony Newbound and cancelling the Australian financial services (AFS) licence and Australian credit licence (ACL) of Freedom Wealth Services Pty Ltd.