Statement - ASIC action update

Summary by 6ix AI

Fiducian Group Ltd has issued a statement regarding an update on ASIC action against its subsidiary, Fiducian Investment Management Services Limited, in the NSW Supreme Court. The company confirms that FIMS has entered into a heads of agreement with ASIC to resolve the civil proceedings initiated by ASIC. The agreement includes a pecuniary penalty and legal costs, and acknowledges certain contraventions of the ASIC Act and Corporations Act. The finalization date for the proceedings will be set by the NSW Supreme Court.

Written by 6ix AI from the company’s filing. How 6ix writes summaries