Statement - ASIC action update
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| Stock | Fiducian Group Ltd (FID.ASX) |
|---|---|
| Release Time | 11 Aug 2026, 4:35 p.m. |
| Price Sensitive | Yes |
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Fiducian Group Ltd. Resolves ASIC Proceedings
Key Points
- Fiducian Investment Management Services Limited (FIMS) resolves proceedings with ASIC
- NSW Supreme Court approves agreement
- FIMS to pay a combined penalty of $7.95 million
Full Summary
Fiducian Group Limited (ASX: FID) has resolved the civil proceedings with the Australian Securities and Investments Commission (ASIC) concerning its subsidiary, Fiducian Investment Management Services Limited (FIMS). The proceedings, which were commenced in the NSW Supreme Court, have been resolved with FIMS agreeing to pay a combined penalty of $7.95 million, including a pecuniary penalty of $7.3 million and ASIC's costs of $650,000. The court made declarations that FIMS contravened certain sections of the Australian Securities and Investments Commission Act 2001 and the Corporations Act 2001. FIMS has cooperated fully with ASIC in its investigation and in resolving the proceeding.
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