I found ACN informing the market about DET advising insufficient...

I found ACN informing the market about DET advising insufficient VET FEE Tuition Assurance as reason for suspension, on 19th January 2016.

"DET made the latest determination on the basis that it was not satisfied that Phoenix Institute of Australia Pty Ltd (Phoenix) was in compliance with the VET tuition assurance requirements under Schedule 1A of the Higher Education Support Act 2003 and the VET Guidelines. DET was also of the view that the amount of tuition assurance maintained by Phoenix was not sufficient for the number of students enrolled."

Unfortunately, ACN was informed specifically about insufficient VET Tuition Assurance on 12th October, 2015.