The District Court of South Australia has found Statewide Superannuation chief risk officer Kieran Francis Netting has no case to answer with regard to charges brought against him by the Australian Securities and Investments Commission (ASIC) in December 2022.
At the time, the corporate regulator alleged Netting used his position in the organisation dishonestly in relation to having a company called Cosight Pty Ltd, formerly known as Fintix Systems Pty Ltd, provide services to the super fund.
Netting’s trial took place in the District Court of South Australia between 10 September and 8 October 2025, where at the conclusion of the prosecution’s case an application was made that the defendant had no case to answer.
Judge Barklay upheld the application and subsequently directed the jury members they were to make a finding of not guilty in favour of Netting.
Legal firm Caldicott and Isaacs, representing Netting, issued a statement noting: “The finding of no case to answer by his Honour Judge Barklay meant that the prosecution case, even considered at its highest, did not contain sufficient evidence to convict Mr Netting.
“The finding by his Honour Judge Barklay according with the assessment of the evidence indicates that there was a complete lack of any evidence to justify the charges against Mr Netting.”
