On the pulse
ASIC consults on plan to increase visibility of firms’ breach and complaints data – see media release.
ASIC to launch new portal for Australian financial services licensees – see media release.
ASIC warns of threat from “hydra-like” scammers after obtaining court orders to shut down 95 companies – see media release.
AICD: Director sentiment rebounds form post-pandemic low – see media release.
ASIC
ASIC consults on plan to increase visibility of firms’ breach and complaints data
As part of its commitment to enhance transparency and accountability, ASIC is consulting on plans to publish two dashboards containing firm-level Reportable Situations and Internal Dispute Resolution data in the second half of 2025.
See ASIC media release.
ASIC warns of threat from “hydra-like” scammers after obtaining court orders to shut down 95 companies
ASIC is warning consumers to remain vigilant when engaging with online investment websites and mobile applications after successfully applying to wind-up 95 companies, many of which ASIC believes may be associated with online investment and romance baiting scams, also known as ‘pig butchering’ scams.
See ASIC media release.
Advice licensees pay penalty for authorising advisers who gave advice while unregistered
In February 2025, ASIC issued infringement notices to three Australian Financial Services (AFS) licensees whose financial advisers provided personal advice while unregistered. Australian Advice Network Pty Ltd, IA Advice Pty Ltd and Sherrin Partners Services Pty Ltd each paid an infringement notice penalty of $31,300 on 5 February 2025, 21 March 2025 and 24 March 2025 respectively. Payment of an infringement notice is not an admission of guilt or liability.
See ASIC media release.
ASIC to launch new portal for Australian financial services licensees
ASIC is launching a new digital portal for licensing on 5 May 2025 to apply for, vary and cancel an AFS licence, marking a significant step in its digital transformation. The AFS licence portal will provide AFS licensees and applicants with a modern, more efficient and user-friendly experience in applying for, maintaining, varying and cancelling licences.
See ASIC media release.
Federal Court finds Green County and Max Funding engaged in unlicensed lending practices
The Federal Court has found that business lender Green County Pty Ltd and business loan introducer Max Funding Pty Ltd engaged in unlicensed credit activity in relation to loans provided by Green County to two consumers. The Court also found that Green County contravened consumer protection provisions in the National Credit Code.
See ASIC media release.
ASIC suspends AFS licence following change of ownership
ASIC has suspended Australian financial services (AFS) licence number 239 946, held by Beacon Wealth Pty Ltd, until 7 April 2026. The AFS licence was suspended because it had ceased carrying on a financial services business.
See ASIC media release.
ASIC sues WA gold mining company Wiluna Mining Corporation for continuous disclosure and directors’ duties breaches
ASIC has commenced civil penalty proceedings in the Federal Court against Wiluna Mining Corporation, its former chair Milan Jerkovic and former chief commercial officer James Malone. ASIC alleges that Wiluna breached continuous disclosure obligations and Mr Jerkovic, amongst other matters, his director duties, by failing to accurately announce the amount raised by Wiluna via a rights issue to the Australian Securities Exchange (ASX). ASIC also alleges Mr Malone failed to take reasonable steps to ensure that statements to the ASX were not false and misleading.
See ASIC media release.
Other regulators
Australian Institute of Company Directors (AICD): director sentiment rebounds from post-pandemic low
The AICD reports that director sentiment has significantly rebounded from its post-pandemic low, reaching its highest level since 2018. This improvement is driven by increased optimism about the domestic economy, business conditions and the global economic outlook. Directors are also more confident about their organisations' growth prospects and investment plans. However, concerns remain about inflation, cyber security and the regulatory environment.
See AICD media release.
G+T articles
G+T Insight – Corporate Advisory Update – April 2025 – focuses on key legal developments over the last month which are particularly relevant to in-house counsel – Hiroshi Narushima (11 April 2025).
G+T Insight – Treasury’s updated foreign investment guidance notes – explains recent updates to Treasury’s FIRB Guidance Notes, including a restructuring of tax condition categories, clearer criteria for application fee refunds in competitive bids, changes to foreign investment rules on residential property, and the rollout of a new online Foreign Investment Portal for application and compliance processes – Deborah Johns and Eugene Teo (9 April 2025).
G+T Insight – Regulatory enforcement spotlight 2025: key risks, sectors and what's next – outlines how Australian regulators in 2025 are intensifying enforcement across key sectors—particularly financial services, technology, and superannuation – focusing on areas like scams, cyber security, ESG disclosures, corporate misconduct and compliance with evolving legal obligations, amid growing scrutiny and increasing penalties – Richard Harris and Aparna Nanayakkara (8 April 2025).
G+T Insight – Deductible gift recipient update – environmental and cultural organisations – outlines recent changes to the eligibility criteria and application process for deductible gift recipient endorsement for environmental and cultural organisations in Australia, following the transfer of administration from government departments to the ATO from 1 January 2024 – Darren Fittler and Elizabeth Lathlean (17 April 2025).
G+T Insight – Social sector spotlight – April 2025 – provides an April 2025 update on key developments in the charities and not-for-profit sector, including changes to DGR endorsement for environmental and cultural organisations, regulatory guidance from agencies like the ACNC and ATO, warnings about scam appeals, updates on political advocacy obligations, and details of upcoming sector events – Darren Fittler and Elizabeth Lathlean (17 April 2025).
G+T Insight – Navigating new merger thresholds and forms: Treasury’s draft regulations and the ACCC’s latest guidance–outlines Treasury's draft determination for Australia's new merger notification regime –set to begin voluntarily in July 2025 and become mandatory in January 2026 –detailing the proposed thresholds, notification forms, and compliance requirements for merger parties, with submissions due by 2 May 2025 – Elizabeth Avery and Simon Muys (14 April 2025).
Calendar dates
2 May 2025 – Deadline for submissions in relation to Treasury consultation on financial advice reforms.
10 June 2025 – Credit licensing requirements for Buy Now Pay Later providers commence.
5 August 2025 – Final report due in the Senate inquiry into greenwashing.
31 March 2026 – Amended AML/CTF obligations commence for existing reporting entities.
31 March 2026 – Tranche 2 entities may enrol as reporting entities with AUSTRAC.
1 July 2026 – Mandatory climate-related financial disclosures for Group 2 entities apply in respect of financial years starting on or after this date.
13 July 2026 – Key CDR obligations commence for non-bank lenders.
1 July 2027 – Mandatory climate-related financial disclosures for Group 3 entities apply in respect of financial years starting on or after this date.