Gina Rinehart's private iron ore mining company Hancock Prospecting has failed in its bid to be exempt from lodging financial reports.

The Australian Securities and Investments Commission said today that Hancock and its related entities had late last year applied for relief from having to lodge financial reports, including company accounts, for a range of periods.

Such disclosure is required under Chapter 2M of the Corporations Act.

"ASIC declined these relief applications on 2 March 2012," ASIC said.

Its decision is now subject to an application for review before the Administrative Appeals Tribunal.