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ASIC

The Australian Securities and Investments Commission (ASIC) and Queensland Police Service (QPS) have worked together to identify those with criminal histories and continued connections with suspected criminal activity who also hold company directorships, including directorships of private companies: then ASIC has removed them from their boards. The action is designed to limit the use of corporations in the commission of crimes, including money laundering.

"Diploma, established in 1976, is a publicly listed commercial construction and property development company, undertaking a diverse portfolio of commercial, retail and high density residential projects," according to its website but Australia's corporate regulator, ASIC, has appointed liquidators to the group. Its shares on ASX have been suspended since the end of August 2016

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Mahmoud Daher, an employee of The Australian Securities and Investment Commission (ASIC), has today appeared at Downing Centre Local Court charged that he effected unauthorised access to restricted data and uttering a false document contrary to money laundering, etc. law.

CoNet Section: 

ASIC, the Australian companies regulator has appointed provisional liquidators to the Uglii group of companies. First, don't panic: it's nothing to do with Uggs, the cult boots. Second, do panic if you run an unlisted business with numerous shareholders and a typical internet business model because that seems to be the primary cause of the regulator's concern.

CoNet Section: 

The Australian Securities and Investments Commission has obtained the suspension by the Companies Auditors and Liquidators Disciplinary Board of Dean Royston McVeigh for 18 months, preventing him acting as liquidator or voluntary administrator.

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