The Australian Securities & Investments Commission announced that Phillip Bird and Daniel Holmes, directors of Perth-based Sheffield Insurance Pty Ltd, have each been charged with two offences for allegedly aiding, abetting, counselling or procuring the company’s failure to lodge financial statements and auditors’ reports with ASIC. ASIC alleges the directors were responsible for Sheffield not lodging its profit and loss statements, balance sheets and auditors’ reports for each financial year from 2019 to 2024, despite the company’s obligation as an Australian Financial Services licence holder to lodge within three months of the end of each financial year. The directors appeared in the Perth Magistrates Court on 10 October 2025 charged under sections 989B(2) and 989B(3) of the Corporations Act, and the matters were adjourned to 21 November 2025. The prosecution is being conducted by the Commonwealth Director of Public Prosecutions following an ASIC referral.
Australian Securities & Investments Commission 2025-10-17
Australian Securities & Investments Commission charges Sheffield Insurance directors over 2019–2024 failure to lodge financial statements
ASIC has charged Phillip Bird and Daniel Holmes, directors of Sheffield Insurance Pty Ltd, for failing to lodge financial statements and auditors’ reports from 2019 to 2024. The charges, under sections 989B(2) and 989B(3) of the Corporations Act, were brought in the Perth Magistrates Court, with proceedings adjourned to 21 November 2025. The prosecution is led by the Commonwealth Director of Public Prosecutions following an ASIC referral.