Acis, current as of: 25 March 2024.
ASIC has commenced the first prosecution action against a Director for failing to comply with the obligation to have a Director Identification Number (Director ID).
In Australia, it is mandatory for all company directors to verify their identity by way of the Director ID regime. Failure to comply with Director ID obligations exposes directors to the risk of civil or even criminal penalities.
For one Director, that risk has become a reality, now facing ASIC prosecution for neglecting Director ID obligations.
Read ASIC’s complete news story here.
