Regulatory Alerts2026-06-02
NSW directors Adam Rana and Joseph Tarzia fined $10,000 each for failing to have director identification numbers
The Australian Securities and Investments Commission (ASIC) secured convictions against two New South Wales directors, Adam Rana and Joseph Tarzia, for failing to comply with mandatory director identification number requirements. Both individuals were fined $10,000 each by the Downing Centre Local Court for contravening section 1272C(1) of the Corporations Act 2001, a strict liability offence designed to prevent fraudulent director identities. This enforcement action underscores ASIC's commitment to ensuring all directors verify their identity and obtain a unique identifier, with the current maximum penalty for such offences set at $19,800.
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