Regal (ASX:RF1) cleared off ASIC's radar

Company News

by Michael Luu

Regal Investment Fund (ASX:RF1) has been cleared off the radar of the Australian Securities and Investments Commission (ASIC), following a search warrant executed by the Australian Federal Police.

Regal confirmed with investors that an investigation into the ASX-listed investment firm was underway for “an undisclosed issue”, hours after the corporate watchdog sanctioned a raid on Regal’s offices in November 2019.

The scrutiny into “trading in certain securities” has so far not detected any notable financial infringements by the $576 million.

Hence, ASIC issued a formal notification today to Regal that “no enforcement action will be taken against Regal at this time”.

Regal’s CEO rendan O’connor seized the occasion to express appreciation for ASIC’s efforts of financial crime prevention and guaranteeing financial FairPlay.

The company also reaffirmed its commitment to regulatory compliance , “Regal takes its responsibility to clients, employees and the broader market very seriously, operating within a strict legal and compliance framework designed to maintain the highest level of integrity and standards.”

Shares in Regal Investment Fund are trading 1.4 per cent higher at $5.10

 

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