This was TEQSA CEO Anthony McClaran is June this year as reported by the AFR:
"We will want further discussion if we see business plans over-reliant on a single market. If we see a pattern of risk, we will say show us your financial plans, show us how you plan to mitigate that risk. We might see a plan that is wildly optimistic.
Top Education Group share price movements require explanation from NSW LPAB, TEQSA,and AG Speakman; Top's declining cash flow from operations adds to worries
TEQSA, together with the LPAB, have refused to clarify matters:
TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless