ASIC - Lion Property Group

Question

1. During ASIC's initial four-year investigation, was the possibility that Lion was operating an unregistered managed investment scheme ever considered? 2. The Court also found evidence of intermingling of funds across multiple special purpose vehicles, with millions of dollars transferred between entities. Were these types of transfers and movements of investor funds examined during ASIC's first investigation? If they were examined, why was no freezing order issued? 3. If this fund was outside of a ''regulatory space'' did ASIC provide any advice to the Government suggesting changes should be made? On what date? 4. Has ASIC undertaken any internal review or lessons-learnt process regarding its handling of this matter? 5. Has the Treasurer or Assistant Treasurer ever asked for - or received - a briefing from you on this matter?

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000304 ASIC - Lion Property Group.pdf (opens in a new tab)