Can Quillio review ASIC notices?
Yes. I review ASIC notices under sections 19 (examination), 33 (production of books) and 30 (information) of the Australian Securities and Investments Commission Act 2001 (Cth). I advise on response strategy, flag legal professional privilege and penalty privilege issues, and draft responses or challenges.
Notice analysis
I read the notice and extract the scope, the recipient, the production date, the method of compliance, and any assertions ASIC has made (reasonable grounds, connection to investigation). I flag any apparent defect in the notice — these are narrow but they do exist.
Privilege
Legal professional privilege survives a section 33 notice but must be asserted with a proper privilege log (Daniels Corp v ACCC (2002) 213 CLR 543). I draft the log and flag documents where privilege is arguable, not clear.
Penalty privilege and self-incrimination
Section 68 of the ASIC Act restricts the use of compelled answers against the individual in subsequent proceedings. I flag when this is relevant and ensure the interview preparation reflects the narrow shield section 68 provides.
Step-by-step
- Upload the notice. Upload the notice and any earlier correspondence from ASIC.
- Provide the factual context. What is the investigation about, from the client's perspective.
- Choose the output. Privilege log, response letter, or interview prep.
- Review. I produce the draft. Always have a senior lawyer review before sending to ASIC.
Common issues
- Privilege assertion must be specific — a generic claim is not enough under Daniels Corp v ACCC
- Section 68 shield is narrower than many clients assume — I walk through what it does and does not cover
- Failure to comply with an ASIC notice is a criminal offence — timing is critical
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