N.B. Only relevant for Australian companies 🇦🇺

When using Cake to manage your share registry, any changes made within the platform are not directly recorded or synchronised with ASIC (Australian Securities and Investments Commission).

At Cake, we understand the importance of accuracy and control over your company's share registry. The platform allows you to make updates, such as adding new shareholders or updating shareholder information, within Cake's interface. However, it is worth noting that these changes are not immediately reflected in ASIC's records.

This deliberate design choice offers several benefits to our customers. By not automatically syncing with ASIC, Cake provides a layer of flexibility and control, ensuring that changes made within the platform are not immediately considered final. This approach allows you to review and validate the modifications before submitting them to ASIC.

Most of our customers appreciate this workflow as it enables them to double-check and validate any changes made in Cake before finalising them with ASIC. It offers an opportunity to catch any errors or omissions, ensuring the accuracy of your company's share registry information.

We recommend that you review and confirm all changes made within Cake before submitting them to ASIC separately. This additional step helps maintain accurate records and mitigates the risk of unintended or erroneous information being recorded with ASIC.

Additionally, we have compliance partners who can serve as your company's registered agent and assist with fulfilling your ASIC obligations. If you're interested, we can introduce you to these trusted partners for further assistance.

Check out this article for more information on how Cake links with your Registered Agent!