🇦🇺Australia

ASIC Disclosure Non-Compliance

2 verified sources

Definition

The Mechanism: Due to ASIC regulations, investment memos for public raises require specific disclosures. Failure in preparation leads to enforcement actions.

Key Findings

  • Financial Impact: Up to AUD 1,110,000 civil penalty per contravention (ASIC maximums)
  • Frequency: Per non-compliant fundraising document
  • Root Cause: Lack of visibility into ASIC requirements during manual approval

Why This Matters

The Pitch: VC/PE firms in Australia 🇦🇺 face AUD 1M+ fines for ASIC breaches in memos. Automation ensures compliant memo generation.

Affected Stakeholders

Fund Managers, Directors, Investment Committee

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Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

Misleading Investment Memo Conduct

AUD 10,000+ civil pecuniary penalties per breach under ACL

FIRB Approval Oversights

AUD 20-50 hours/deal in delays + AUD 30,000+ legal fees

Waterfall Calculation Errors

20-40 hours/month per fund admin at AUD 150/hour = AUD 3,000-6,000/month

Disputed Carried Interest

AUD 50,000+ legal/dispute costs per incident; 1-2% of fund profits clawed back

Fund Reporting Non-Compliance

AUD 11,100-$1.1M fines per breach (ASIC civil penalties); AUD 20k+ audit remediation

Fehlklassifizierung von Carried Interest führt zu Steuernachzahlungen und Strafen

Quantified: AUD 100k–300k per mid‑size fund over its life in additional income tax from denied CGT discount on misclassified carry (assuming AUD 5–10m of carry taxed at up to ~23.5 percentage‑points higher marginal rate), plus 25–50% administrative penalties on the shortfall and interest, yielding total exposures of AUD 150k–500k per fund in an ATO review.

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