ASIC roundup: New ASIC CEO, and A$8m penalty for Firstmac

The Australian Securities & Investments Commission’s latest actions and news, January 1 – 24, 2025.

Firstmac pays A$8m for DDO failingsJanuary 24, 2025

Firstmac Limited has been ordered by the Federal Court to pay A$8m ($5.03m) for failing to meet its design and distribution obligations (DDO).

The company was earlier in July 2024 found breaching DDO by not taking reasonable steps to make sure that

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in