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ASIC

A new report by ASIC into its supervision of registered liquidators between January 2017 to June 2018 reveals significant review of the regulation of the sector - and some pretty serious negative news about it.

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The Australian Securities and Investment Commission (ASIC) conducted inspections at Australia's six largest audit firms and found that they performed a little better than the industry average but even so, a fifth of them lacked material information.

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The Australian Securities and Investment Commission has applied to the Federal Court to wind up Traditional Therapy Clinics Limited (a Chinese Traditional Medicine company) after it was delisted by the Australian Stock Exchange and has asked the court that two members of Ernst and Young be appointed as liquidators.

So, now you know what all the letters mean, let's get on with the story which is, in part, about Red Stox and the continuing risks some of them pose for shareholders, regulators and sponsors to say nothing of those usually small businesses which put their faith in them ....

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Australia's ASIC is warning companies that they have until only 27 September to file a new set of data.

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ASIC has disqualified Kathleen Whittle of New South Wales from being an approved self-managed superannuation fund (SMSF) auditor.

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The Federal Court of Australia has ordered the winding up of 18 companies associated with the Macro Group, all of which have Desiree Veronica Macpherson as a director.

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The Australian Securities and Investments Commission (ASIC) and Queensland Police Service (QPS) have worked together to identify those with criminal histories and continued connections with suspected criminal activity who also hold company directorships, including directorships of private companies: then ASIC has removed them from their boards. The action is designed to limit the use of corporations in the commission of crimes, including money laundering.

"Diploma, established in 1976, is a publicly listed commercial construction and property development company, undertaking a diverse portfolio of commercial, retail and high density residential projects," according to its website but Australia's corporate regulator, ASIC, has appointed liquidators to the group. Its shares on ASX have been suspended since the end of August 2016

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Mahmoud Daher, an employee of The Australian Securities and Investment Commission (ASIC), has today appeared at Downing Centre Local Court charged that he effected unauthorised access to restricted data and uttering a false document contrary to money laundering, etc. law.

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ASIC, the Australian companies regulator has appointed provisional liquidators to the Uglii group of companies. First, don't panic: it's nothing to do with Uggs, the cult boots. Second, do panic if you run an unlisted business with numerous shareholders and a typical internet business model because that seems to be the primary cause of the regulator's concern.

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