The corporate watchdog is investigating claims a coal laboratory inflated quality results on export certificates.
Under questioning during a Senate hearing on Thursday, Australian Securities and Investments Commission executive Cathie Armour said she was "very much aware" of the matter related to a company called ALS.
"I would prefer at this stage not to make any further comment," she said in response to Greens senator Larissa Walters.
"It's not our practice to comment on matters on inquiries under way."
Senator Walters told the hearing ALS was raided by fraud squad officers in June last year and a police spokesman said the investigation was being led by ASIC.