Australian Securities & Investments Commission issues AUD 594,000 in infringement notices to three Mecca group companies for late audited financial report lodgements

The Australian Securities & Investments Commission (ASIC) reported that Mecca Brands Pty Ltd, Mecca Brands NZ Pty Ltd and RTCH Pty Ltd have each paid an AUD 198,000 infringement notice, totalling AUD 594,000, over alleged failures to lodge audited financial reports on time. The notices relate to audited financial reports for the year ended 28 December 2024, which were due by 28 April 2025; the companies lodged their financial statements shortly after ASIC began inquiries in July 2025. Payment of an infringement notice is not an admission of guilt or liability and does not amount to a conviction. ASIC positioned the action within its 2026 enforcement priority on financial reporting misconduct and a broader, data-driven surveillance program targeting non-lodgement and persistent late lodgement. In 2025, ASIC engaged with 217 companies in a non-lodgement surveillance exercise and identified 151 as non-compliant for one or more financial years, which resulted in infringement notices being issued to twelve large proprietary companies for allegedly failing to lodge FY24 audited reports on time; the 2026 program expands the risk-based approach beyond large proprietary companies to other entities with reporting obligations. ASIC also reminded directors to proactively review reporting obligations and urged auditors to notify ASIC if they are aware of, or suspect, non-compliance.