Queensland company Penta Capital Pty Ltd has agreed to pay A $53,280 to comply with four infringement notices issued by the Australian Securities and Investments Commission (ASIC).。

ASIC accuses Penta Capital of posting a series of false and misleading statements on its website。

Between May 2022 and February 2023, Penta Capital's website includes the following statements, which ASIC calls misleading:

• The company manages $6.9 billion in assets on behalf of retail, wholesale and institutional investors.
• Managing 3.assets of $500 million;
• has been in operation for 25 years between 1997 and 2022;
• has been sponsored or approved by, or is otherwise associated with, the Financial Services Commission, the Australian Property Commission and the Australian Investment Commission。

ASIC said the statements were misleading because Penta Capital does not manage any assets on behalf of retail, wholesale or institutional clients, does not manage any assets and has only been operating since around May 5, 2022.。

ASIC also alleges that Penta Capital has not received any sponsorship, approval or affiliations from the Financial Services Commission, the Australian Property Commission and the Australian Investment Commission.。

Penta Capital paid the down payment for the infringement notice on December 22, 2023。

If Penta fails to pay the remaining instalments, ASIC may investigate further and file a civil penalty action.。

Notice of payment violation does not imply admission of liability。

Penta Capital is not an Australian financial services licensee or authorised representative, but the affiliated entities Penta Asset Management Pty Ltd and SEQ Asset Management Pty Ltd were authorised representatives of AFS licensees Avalon Funds Management Limited between 1 September 2022 and 19 April 2023.。Avalon Funds Management is not the subject of an ASIC investigation。