Australia’s ASIC Seeks Information From Banks Over Failed Firmus IPO

The regulator's request for information stops short of a formal investigation, which suggests ASIC is still in fact-finding mode rather than treating the collapsed listing as a case. The focus on banks is notable: it puts the underwriting and bookbuilding process, not just the issuer, under scrutiny for how a deal reached the market and then failed. How much detail ASIC extracts from the banks, and whether the inquiry escalates beyond information-gathering, is the open question for Australia's listing pipeline.