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The Latest Breaking News from ASIC

‘Not fair and honest’: KPMG and other audit firms finally face a reckoning – and a potential break-up

The “big four” audit and consulting firms face a likely crackdown that could even lead to the firms being broken up, following a string of ethical failures.

The Conversation

Rex misled with sky-high claims before $31.7m crash

A cash-strapped carrier which boasted it would deliver profits before turning a large loss has had another setback with a judge finding it misled the market.

AAP

Super platforms warned, again, to protect client funds

A regulator is on the warpath after a review of superannuation platform trustees came up short for the second time, potentially leaving clients exposed.

AAP

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Leaks, lawyers and a whistleblower: how did KPMG’s failings emerge – and could more have been done?

A parliamentary inquiry heard claims from one former employee that partners pursued ‘revenue growth at all costs’

The Guardian - AU

Australia's car loan trap: industry warned to be 'fair'

The findings of a major report on car financing in Australia aren't pretty, leaving the industry body to make clear that customers must be treated fairly.

AAP

UQPAY Appointed as ASIC Australian Financial Services Authorised Representative

MELBOURNE, Australia, June 18, 2026 /PRNewswire/ -- UQPAY Pty Ltd, the Australian subsidiary of UQPAY Group, is pleased to announce that it has been officially registered as an Australian Financial Services (AFS) Authorised Representative with the Australian Securities and Investments Commission (ASIC), effective 15 April 2026. This achievement marks a…

AAP

NSW:'Vigilance wanting': ex-Star boss hit with $700k fine

The corporate watchdog has failed to get a $1.3 million penalty imposed on Star's former chief for failing to inform the board of risky overseas punters.

AAP

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KPMG lost its clients’ trust, yet kept winning government contracts. Here’s what needs to change

This Friday, senior current and former leaders from major consulting and audit firm KPMG will face a barrage of questions at a parliamentary inquiry in Canberra.

The Conversation

Australia imposes record $211 million fine on collapsed broker Union Standard, representatives

Australia's federal court has imposed a record A$300.2 million fine on Union Standard and its representatives. The foreign exchange broker engaged in misconduct between 2018 and 2020. They targeted inexperienced investors, pressuring them to deposit more funds. This action resulted in millions of dollars in losses for customers.

The Economic Times

FED:Wider watchdog inquiry launched into consulting firm

The head of ASIC has confirmed a broader investigation is under way into Big Four consulting firm KPMG following allegations from whistleblowers.

AAP

Wider watchdog inquiry launched into consulting firm

The head of ASIC has confirmed a broader investigation is under way into Big Four consulting firm KPMG following allegations from whistleblowers.

AAP

'No procedure': watchdog defends keeping $3m KPMG contracts amid probe

Partnership loophole leaves watchdog powerless to discipline KPMG.

The Canberra Times

FED:'Unexplained gap' in case against ex-Rex directors

Four former regional airline directors will soon know their fate as the corporate watchdog's case against them draws to a close.

AAP

'Unexplained gap' in case against ex-Rex directors

Four former regional airline directors will soon know their fate as the corporate watchdog's case against them draws to a close.

AAP

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AAP

Casino slapped with $10m fine over gambling breaches

The Star casino has been hit with another round of massive fines for regulatory breaches, including allowing players to gamble well beyond legal time limits.

AAP

'Blows my mind': KPMG's whistleblower issues collide

A consultancy firm facing claims it mishandled allegations of misconduct by a whistleblower was dealing with whistleblower complaints for major companies.

AAP

'I take accountability': top advisory firm leader quits

The head of KPMG Australia has resigned after the corporate regulator publicly confirmed in real time it is probing registered company auditors at the firm.

AAP

NSW:Proposed $1.3m fine for ex-Star boss branded 'unfair'

A judge has questioned how he could fine Star's ex-chief more than $1 million for criminal risks at the casino when others settled for much lower amounts.

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AAP

Proposed $1.3m fine for ex-Star boss branded 'unfair'

A judge has questioned how he could fine Star's ex-chief more than $1 million for criminal risks at the casino when others settled for much lower amounts.

AAP

NSW:Rex profit promise 'untenable' for responsible company

The corporate watchdog's legal team has lambasted a regional airline's statement forecasting profits ahead of an eventual eight-figure loss.

AAP

Rex profit promise 'untenable' for responsible company

The corporate watchdog's legal team has lambasted a regional airline's statement forecasting profits ahead of an eventual eight-figure loss.

AAP

FED:'Negligent' ex-Star boss could be hit with $1.3m fine

Star's former chief executive faces a $1.3 million fine after failing to tell the casino's board of criminal risks associated with lucrative overseas junkets.

AAP

'Negligent' ex-Star boss could be hit with $1.3m fine

Star's former chief executive faces a $1.3 million fine after failing to tell the casino's board of criminal risks associated with lucrative overseas junkets.

AAP

FED:Banks on notice as Westpac fined for failing clients

Banking giant Westpac has been slugged with a $26 million penalty for failing to support customers in need, a decision an expert says sends a clear message.

AAP

Gen Z bombarded by fake crypto trading scams

"If it sounds too good to be true, it probably is", is the advice being given to young people amid a surge in scams involving fake crypto trading platforms.

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