Aug 30, 2026 – 2.54pmThe corporate regulator’s inquiries into irregular trading in a clutch of micro-caps – having started with an Australian Federal Police visit to Evolution Capital’s Sydney offices last week – are widening, and now extend to at least two other stocks and a second broker.This column has reported that trading in 3D modelling and augmented reality software company Vection Technologies was one reason that the Australian Securities and Investments Commission had its interest sufficiently piqued to raid the Evolution offices, as well as the homes of managing director Stephen Silver and the firm’s head of trading.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
ASIC micro-cap probe widens to at least three stocks, two brokers
Torque Metals, an ASX-listed gold explorer backed by high-profile investor Tolga Kumova, is among companies where trading has piqued the regulator’s interest.
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