The Australian Securities and Investments Commission (ASIC) has a wide range of strong investigative tools at its disposal, which it may use as it sees fit. Section 19 of the Australian Securities and Investment Commission Act grants the authority to issue notices, among other functions. People are required by this notification to provide information, submit papers, or participate in an examination. Notices under Section 19 are particularly important because they can be issued by ASIC if it has reasonable suspicions that someone has information that could be used to further an ongoing investigation by ASIC. Given that ASIC has broad and sometimes intimidating investigative powers, it is critical to understand the value of speaking with an ASIC inquiry counsel. The legal experts at BlackBay Lawyers can offer you astute advice and representation in dealing with Section 19 notices and other ASIC investigative measures.
It’s important to know what duties you are under and what ones you aren’t when you receive an ASIC notice. Our staff regularly represents our clients at examinations, offering guidance on the scope of the review, supplying the necessary documentation, and defending their rights all through the investigation. Additionally, we defend clients facing criminal charges for corporate or commercial misbehavior, including fraud and other forms of dishonesty, brought against them by ASIC and other regulatory bodies. If you have any worries regarding a possible or ongoing ASIC inquiry, our staff can assist you in getting clear and useful advice.
Our ASIC Investigation Expertise
ASIC Investigation — Section 19 Notices
ASIC has the power to send out a Section 19 notice, which requires anyone to provide information or documents that are relevant to an inquiry. Receiving a Section 19 notification might have serious consequences, therefore you must proceed quite cautiously. Our ASIC investigation lawyers at BlackBay Lawyers are experts at helping clients navigate the Section 19 notice response process. We carefully monitor our clients’ adherence to the notice’s requirements and concurrently put up a strong defense to protect their rights and interests. It is crucial to comprehend the subtleties of ASIC’s criteria and the implications they have for the law. Our lawyers will work closely with you to develop a strategic approach tailored to your specific case, ensuring you are both compliant and well-protected throughout the process.
ASIC Investigation — Section 19 Examinations
An interview by ASIC with a person obligated to produce information or documents according to a Section 19 notice is known as a Section 19 examination. In addition to providing clients with advice on their rights and responsibilities during the interview and representation during the test, BlackBay Lawyers may assist clients in getting ready for a Section 19 examination.
ASIC Investigation — Section 63 Failure to Comply with Requirements
If someone disregards a Section 19 notice, they may face jail time and fines, among other consequences. BlackBay Lawyers may assist clients in responding to claims that they neglected to follow a Section 19 notice, and if required, they can even represent them in court.
License Variations, Suspension and Cancelations
ASIC, the Australian Securities and Investments Commission, has the authority to amend, revoke, or suspend licenses for companies and individuals within its jurisdiction. In addition to providing clients with legal representation and rights advice, BlackBay Lawyers can assist clients in navigating the process of a license variation, suspension, or cancellation. In addition to assisting customers in mitigating the potential effects of a license variation, suspension, or cancellation, we may also help clients comprehend those ramifications.
Defence against Enforceable Undertakings
A legally enforceable agreement between an individual, business, and ASIC that mandates the individual or business to perform specific tasks or abstain from specific behavior is known as an enforceable undertaking. BlackBay Lawyers may help clients defend against enforceable undertakings, including examining the proposed undertaking, advising on the potential ramifications of accepting the undertaking, and representing the client in any negotiation or court procedures linked to the undertaking. Additionally, we may support clients in creating a plan to lessen the possible effects of an enforced undertaking on their company.
Author: BlackBay Lawyers
BlackBay Lawyers is a leading litigation firm that delivers exceptional outcomes for our clients with a platform that attracts and enables the very best legal talent in Australia, ensuring our clients receive the highest quality representation.
