Phillip Bird of Alexander Heights, WA, and Daniel Holmes of Beechboro, WA, have each been charged with two offences of aiding, abetting, counselling or procuring Sheffield Insurance Pty Ltd (Sheffield) failing to lodge financial statements and auditors report with ASIC, following an ASIC investigation.
ASIC alleges that, as directors of Sheffield, Mr Bird and Mr Holmes were responsible for the failure by Sheffield to lodge its profit and loss statement and balance sheet (Financial Statements) and auditor's report for each financial year from 2019 to 2024.
Mr Bird and Mr Holmes appeared in Perth Magistrates Court on 10 October 2025 charged under sections 989B(2) and 989B(3) of the Corporations Act.
As the holder of an Australian Financial Services (AFS) Licence, Sheffield is required to lodge the Financial Statements with ASIC within 3 months of the end of the relevant financial year.
The legal representative appearing for both Mr Bird and Mr Holmes requested the matters be adjourned to 21 November 2025.
The matter is being prosecuted by the Director of Public Prosecutions (Cth) after a referral from ASIC.
Background
Australian Financial Services (AFS) licensees must have adequate financial resources to provide the financial services covered by their AFS licence and to carry out supervisory arrangements. FS Licensees are required to submit financial statements to ASIC to maintain investor confidence and ensure the accountability of management through the provision of timely and reliable financial information.
