Two non-bank lenders, Think Tank Group and Bizcap, are among 22 large proprietary companies that have paid infringement notices for allegedly failing to lodge their 2025 financial reports on time, according to the Australian Securities and Investments Commission (ASIC).
Each company paid $198,000, a combined $4,356,000. Paying an infringement notice is not an admission of guilt or liability.
The action adds to ASIC’s broader focus on non-bank lending, although the two are separate issues. In June, the regulator said poor private credit practices remain a 2026 enforcement priority.
ASIC described Think Tank Group as a commercial and residential property finance business and Bizcap AU as a non-bank lender. Belgravia Group, whose businesses include financial services, was also named.
Property and construction were heavily represented. The list includes residential builder Coral Homes, several civil construction and property development companies, and two JQZ entities.
ASIC’s investigation continues for any company that has paid but still has outstanding reports.
The penalties are part of a data-driven surveillance program ASIC began in August 2025. Since then, companies have paid 70 infringement notices totalling more than $13.7 million.
This year, ASIC contacted 234 companies across sectors including lending, retail, construction, and insurance. Of those, 193 (82%) had allegedly not filed their 2025 statements. After ASIC’s enquiries, 147 have submitted at least one outstanding report.
Companies cited audit-related issues, administrative oversights, and a lack of resources. Some only learned of the requirement once ASIC got in touch.
ASIC commissioner Kate O’Rourke (pictured) said its enforcement action sent “a clear message”: companies “must meet their financial reporting obligations and should not assume that non-compliance will go undetected.”
She said ASIC would continue its surveillance into 2027 and “will not hesitate to take further enforcement action.”
“We call on directors to regularly review those obligations and ensure required reports are prepared, audited, and lodged on time, without waiting for ASIC to intervene,” she said.
Large proprietary companies generally have four months after their financial year ends to lodge annual financial, directors’, and auditors’ reports.
Get the hottest and freshest property and mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
