Australia’s corporate regulator has issued infringement notices to three companies operating major fashion and beauty retail businesses in Australia for allegedly failing to lodge their financial reports by the required date.
This comes as ASIC ramps up its crackdown on financial reporting across sectors, and follows fines handed to MJ Bale, White Fox and Aje with similar fines. MJ Bale has since caught up with its filings, submitting its FY22, FY23, FY24 and FY25 reports. White Fox has also begun its catch-up, recently releasing its FY22 report.
Zara’s local parent company Inditex Australia Pty Ltd has paid an infringement notice of $198,000 for failing to lodge its report for the financial year ending January 31, 2025.
Meanwhile, fashion brand the parent company of H&M has paid an infringement notice of $198,000 for failing to lodge its report for the financial year ending November 30, 2025.
Sephora Australia Pty Ltd, a beauty and personal care retailer, has also paid an infringement notice of $198,000 for failing to lodge its report for the financial year ending December 31, 2024.
The three companies have now lodged all outstanding financial reports.
Payment of an infringement notice is not an admission of guilt or liability, and the companies are not regarded as having been convicted of the alleged offence.
ASIC commissioner Kate O’Rourke said the three infringement notices reinforced ASIC’s ongoing commitment to pursuing enforcement action for late lodgement and non-lodgement of financial reports by large proprietary companies.
“Since announcing a broad surveillance focused on late lodgement and non-lodgement of financial reports in August 2025, ASIC has issued 24 infringement notices totalling over $4.5 million for alleged financial reporting breaches,” O’Rourke said.
“This, combined with court-imposed fines for failing to lodge financial reports and related governance obligations, should send a clear message to reporting entities that we are actively enforcing the financial reporting requirements and expect companies to comply.”
In line with ASIC’s current enforcement priority, and through its targeted, data-driven surveillance, O’Rourke said the corporate watchdog continues to identify and investigate a number of companies that have lodged late or failed to lodge at all.
Just this week, the Australian Financial Review reported that David Jones is one such company being investigated.
“ASIC will take appropriate action to ensure reporting entities are well aware of, and comply, with this important governance and disclosure obligation,” O’Rourke said.