The Australian Securities and Investments Commission has revealed they intend to continue their investigation into funeral insurer Youpla, despite fears the inquiries would be withdrawn because of the fund’s recent liquidation. Youpla Group, previously known as ACBF Funeral Fund, has been investigated by ASIC since late 2020 after the Banking Royal Commission found the fund to be falsely marketing itself as Aboriginal-owned and selling policies to vulnerable people. The investigation was halted in March of this year when the fund went into liquidation, but ASIC has now revealed to the Federal Court that they intend to make an application to continue their investigation into the fund and its directors. The news comes as a great relief to Veronica Johnson, a financial counsellor from Broome. Working out of Broome CIRCLE, Ms Johnson has numerous clients who lost thousands by having policies with the fund and has advocated on behalf of them and the Save Sorry Coalition — a group of 125 organisations around Australia — for the Federal Government to provide compensation to those who lost money to the fund. In the past month, the counsellor travelled to communities on the Dampier Peninsula to both garner support for the campaign and spread the news of Youpla’s collapse. She views ASIC’s decision as “a positive move” towards obtaining justice for her clients and all those affected. “It’s about accountability,” she said. “It needs to go through the courts because those directors need to be made accountable.” Ms Johnson said she hopes the investigation will deliver the compensation Save Sorry Coalition is calling for. “I think ASIC’s investigation will assist (in gaining compensation) greatly. We hope it’ll make those directors accountable, and if the courts can actually recover some of the millions lost, then absolutely, it would help. “Hopefully, that money would then trickle down through to the 30,000 clients that have been impacted. “We can’t lose sight of where we need to go with all of this, and that is compensation for those 30,000 people that have been affected.” It comes after the Albanese Government this month vowed to form their own investigation into Youpla and look into “a potential course of action” to assist affected families. ASIC is required to submit their application by July 14 ahead of a July 22 court date at which the Federal Court will either accept or deny this request.