ASIC obtains over A$700,000 for financial reporting failures

During the first six months of 2023, over A$700,000 ($442,239) has been secured in penalties for prosecuting 36 companies over failings to lodge financial reports, failings to hold annual general meetings (AGMs) and over failings to have the required number of directors and resident directors.

Of all 36 prosecutions, three resulted in fines

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