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Thursday 13 November 2014

14-301MR AAT Corporation Limited fined for failing to lodge financial reports

Australian public company, AAT Corporation Limited, has been convicted and fined $27,000 for failing to lodge annual and half-yearly financial reports.

AAT Corporation Limited was charged by the Australian Securities and Investments Commission (ASIC) after failing to lodge its annual financial reports for the years ended 30 June 2012 and 30 June 2013 and half-yearly financial reports for the half-years ended 31 December 2010 and 31 December 2012. The company pleaded guilty to ASIC’s charges in the Sutherland Local Court on 11 November 2014.

Commissioner Greg Tanzer said financial reporting played an important role in maintaining market integrity and investor confidence.

‘The primary purpose of financial reports is accountability – particularly to shareholders who are entitled to timely and reliable information.

‘Any company required to lodge financial reports should provide this information so that shareholders get a clear picture of a company’s performance and position’, Mr Tanzer said.

AAT Corporation Limited was suspended from listing on the Australian Securities Exchange on 1 March 2010 after failing to lodge its half-yearly report.

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Last updated: 23/03/2016 03:14