My husband runs a large business in the city with his business partner. They have been having trouble lately. There has been difficulty with cash flow and other issues too. My husband told me that ASIC is investigating them for fraud and some other financial related matters. I have now received a notice to attend an ASIC interview. I do not want to go. I should not have to attend the interview because I am not part of the business.
Lawyer Answers (1): Answers from lawyers are general preliminary responses. They are not formal legal advice and cannot taken account of all your circumstances. They do not create a lawyer–client relationship.
Answer by LegalEagle™ staff, Bronte 2024 NSW
- ASIC has broad powers to require people to come to a compulsory interview. ASIC can require people who are not part of the business to attend interviews as part of their investigation.
- You must attend the ASIC interview and answer all their questions.
- The main reason that you can give for not answering their questions is a claim of legal professional privilege.
- If you think this may apply in your case or if you have any concerns then you should speak to a lawyer, get some legal advice and possibly ask them to attend the interview with you.
- Make sure you make a note of the interview date and time and make sure you have enough time to get some legal advice before the interview is scheduled.
- Remember that there are separate offences for failing to comply with an ASIC investigation.