In a statement, ASIC revealed that late last year Hancock Prospecting applied for relief from having to lodge financial reports including company accounts for a number of periods.
However, the corporate watchdog said it knocked back these relief applications on March 2.
Hancock has appealed the decision which will now be reviewed before the Administrative Appeals Tribunal.
The news comes after Hancock sold a 30% stake in its Roy Hill iron ore project to a consortium of Asian investors for $A3.2 billion last month.
This article first appeared in ILN's sister publication MiningNews.net.