Thinktank and Bizcap have each paid hefty fines as ASIC pursues companies over alleged reporting failures.
Non-bank lenders Thinktank, which specialises in property finance, and Bizcap, which funds small and medium-sized businesses, have each paid a $198,000 infringement notice for allegedly failing to lodge audited financial reports on time for the 2025 financial year.
The Australian Securities and Investments Commission (ASIC) named Think Tank Group and Bizcap AU among 22 large proprietary companies in its 4 November announcement, with payments across the group totalling $4,356,000. All notices have been paid in full.
Thinktank’s lending spans commercial, residential, SMSF and strata property finance, while Bizcap provides flexible funding to SMEs.
ASIC’s register records Bizcap’s payment on 3 September and Thinktank’s on 29 September, with the regulator adding that payment does not constitute an admission of guilt or liability.
The notices form part of ASIC’s continuing financial reporting surveillance. Large proprietary companies generally must lodge annual financial reports, directors’ reports and auditors’ reports within four months of their financial year ending.
ASIC commissioner Kate O’Rourke said timely disclosure helped those dealing with companies understand their financial circumstances.
“Timely financial reporting gives shareholders, creditors and others dealing with a company important information about its financial position and performance, helping them make informed decisions,” she said.
Reporting crackdown passes $13.7m
Since launching its data-focused surveillance in August 2025, ASIC has received payments for 70 infringement notices worth more than $13.7 million, including the latest group.
During 2026, the regulator engaged with 234 companies across lending, retail, hospitality, construction, logistics, resources, health, insurance and technology. This followed contact with 217 companies in the second half of 2025.
Of those approached in 2026, 193, or 82 per cent, had allegedly failed to lodge FY2024–25 financial reports.
After ASIC intervened, 147 companies submitted at least one overdue report, particularly across retail, construction and resources.
O’Rourke warned that companies should expect continued scrutiny, with ASIC extending its surveillance into next year.
“Our enforcement actions over the past year sends a clear message – companies must meet their financial reporting obligations and should not assume that non-compliance will go undetected. We will continue our data-focused surveillance into 2027 and will not hesitate to take further enforcement action,” she said.
Directors told not to wait for intervention
Across its broader surveillance, ASIC said companies attributed non-lodgement to audit issues, administrative oversights and insufficient resources to prepare reports.
It added that some companies concerningly did not realise they had reporting obligations until the regulator contacted them.
O’Rourke placed responsibility on directors to check their companies’ requirements regularly and oversee completion of the reporting process.
“Directors are accountable for ensuring their company meets its financial reporting obligations. 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,” O’Rourke said.
[Related: ASIC freezes mortgage fund as private credit scrutiny mounts]
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