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Fiducian Group Limited (ASX:FID)

ALERT: Price-sensitive ASX Announcement for FID
Current share price for FID : $8.880 0.23 (2.66%)+
Announcement
Release
11 Aug 2026 4:35PM
Price at Release
$8.650
Full Release
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Summary
Fiducian Group Limited has confirmed the resolution of civil proceedings initiated by the Australian Securities and Investments Commission (ASIC) against its subsidiary, Fiducian Investment Management Services Limited (FIMS). The proceedings, which were approved by a court order on 11 August 2026, resulted from non-deliberate contraventions involving a lack of appropriate care. FIMS is required to pay a pecuniary penalty of $7.3 million to the Commonwealth of Australia and cover ASIC's costs of $650,000. FIMS must also notify affected members during the contravention period, dismissing the proceedings otherwise.
Key Points
  • ASIC initiated civil proceedings against Fiducian Investment Management Services Limited (FIMS), a subsidiary of Fiducian Group Limited.
  • Proceedings were resolved with the NSW Supreme Court's approval on 11 August 2026.
  • FIMS contravened sections of the ASIC Act and Corporations Act due to a lack of appropriate care.
  • FIMS to pay $7.3 million in penalties and $650,000 in costs to ASIC.
  • FIMS to notify affected members within 30 days of the order.
  • The contravening conduct by FIMS was not deliberate.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.