Canva Group Pays ASIC Over Late Financial Report Lodgements

Key Takeaways

• ASIC Targets Canva Group Over Late Filings: The Australian Securities and Investments Commission issued four infringement notices totaling $518,000 (AUD $792,000) to companies within the Australian Canva Group for allegedly failing to lodge FY24 financial reports by the required deadline.
• Each Entity Paid $129,000 (AUD $198,000): Canva, Canva Operations, Canva Trading, and Fusion Books each paid infringement notices tied to reports due on April 30, 2025.
• No Admission of Guilt: ASIC noted that payment of an infringement notice does not amount to an admission of guilt or liability, and the companies are not considered convicted of the alleged offenses.
• Financial Reporting Remains an Enforcement Priority: ASIC said financial reporting misconduct, including non-lodgment and persistent late lodgment, is one of its key enforcement priorities for 2026 and confirmed it has multiple investigations underway.
• ASIC Expands Broader Compliance Push: The regulator said it has already issued 21 infringement notices worth more than $2.6 million (AUD $4 million) tied to alleged FY24 reporting breaches, alongside additional court-imposed penalties against other companies.

Deep Dive

Australia’s corporate regulator has issued nearly $518,000 (AUD $792,000) in infringement notices to companies within the Australian Canva Group, escalating its push against late financial reporting as part of a broader 2026 enforcement campaign.

The Australian Securities and Investments Commission announced Wednesday that four entities tied to the global online design platform Canva paid infringement notices totaling $518,000 (AUD $792,000) for allegedly failing to lodge financial reports for the financial year ending December 31, 2024, by the required deadline.

According to ASIC, Canva Pty Ltd, Canva Operations, Canva Trading, and Fusion Books each paid an infringement notice of $129,000 (AUD $198,000). The regulator said the companies failed to lodge financial reports by the April 30, 2025 due date.

ASIC said Canva Pty Ltd eventually lodged its FY24 consolidated financial report covering the four companies on March 27, 2026, nearly a year after the statutory deadline.

The regulator stressed that payment of an infringement notice does not constitute an admission of guilt or liability, and the companies are not considered convicted of the alleged offenses.

The enforcement action comes as ASIC intensifies scrutiny of financial reporting compliance among large proprietary companies and other entities subject to reporting obligations. The regulator identified financial reporting misconduct, including failures to lodge reports on time, as one of its key enforcement priorities for 2026.

ASIC Commissioner Kate O’Rourke said the agency is using “targeted, data-driven surveillance” to identify companies that repeatedly fail to lodge reports or submit them late.

“Companies and other entities with reporting obligations must ensure financial reports are lodged within the required timeframes,” O’Rourke said in the announcement. “Both non-lodgment and late lodgement prevents creditors and other users of the reports from making timely and informed decisions when dealing with these companies and is a failure of their legal obligations.”

She added that ASIC has multiple ongoing investigations tied to alleged non-lodgment and late lodgment practices and signaled that further enforcement action is likely.

The regulator said it has already issued and collected payment for 21 infringement notices worth more than $2.6 million (AUD $4 million) related to alleged FY24 financial reporting breaches. That activity sits alongside separate court-imposed penalties, including more than $719,000 (AUD $1.1 million) in fines handed down against three public companies in a single day at Sydney’s Downing Centre Local Court.

Under Australian law, large proprietary companies must prepare and lodge annual financial reports if they meet at least two threshold criteria tied to revenue, assets, or employee count. ASIC noted that reporting obligations also extend to public companies, registered managed investment schemes, registrable superannuation entities, and certain foreign-controlled proprietary companies.

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