Latest Asic Investigations News

Insurance Australia Group’s half year net profit fell 35% to $505 million, weighed down by natural peril claims and integration costs from its RACQI acquisition. Despite this, the insurer maintains its full-year guidance and announces a $200 million share buy-back.

Electro Optic Systems (EOS) has firmly rejected allegations from a recent Grizzly Research report, highlighting its strengthened financial position, significant contract wins, and strategic acquisition to bolster its defence technology portfolio.

Electro Optic Systems (EOS) reports a record $459 million contract backlog, major new defence contracts including a $120 million laser weapon deal, and a strategic acquisition to boost counter-drone capabilities.

Electro Optic Systems has resolved ASIC's investigation into its 2022 revenue guidance breaches by agreeing to a $4 million penalty, paving the way for renewed focus on growth and governance.

Dubber Corporation Limited reported its first-ever positive net operating cashflow excluding exceptional items in Q1 FY26, supported by cost savings and a strong cash position. The company also expanded its partner network and targets operating cashflow breakeven this fiscal year.

Clime Investment Management has firmly rejected allegations of a formal ASIC investigation following a misleading media report, clarifying that only a preliminary inquiry occurred.

Netwealth has lodged a formal application for government financial assistance following a $101 million exposure linked to alleged fraud in the First Guardian Master Fund, impacting over a thousand members.

ASIC has initiated civil proceedings against Fiducian’s subsidiary, alleging misleading statements and compliance failures related to a now-closed investment fund. Fiducian is cooperating but remains tight-lipped as the case unfolds.

Mineral Resources Limited posted a $896 million statutory loss for FY25, driven by significant impairments, while Onslow Iron achieved commercial production and governance reforms reshape the board.

Sequoia Financial Group reports robust FY25 growth with improved margins and a fully franked dividend, while navigating regulatory scrutiny and governance reforms.

Sequoia Financial Group has responded to an ASX price query, denying any undisclosed material information behind recent trading fluctuations and reaffirming compliance with listing rules amid ongoing ASIC investigations.

Macarthur Minerals has updated its rights issue prospectus, introducing a cap on the underwriter's shareholding and revising key offer terms. These changes aim to balance funding needs with shareholder control and regulatory compliance.