Summary of enforcement outcomes: January to June 2022
This page provides an overview on ASIC’s enforcement actions in a particular six-monthly period. The data below reflects the period 1 January to 30 June 2022.
Contents:
- Summary of enforcement outcomes
- Financial services enforcement outcomes
- Markets enforcement outcomes
- Corporate governance enforcement outcomes
- Small business enforcement outcomes
Summary of enforcement outcomes
Prosecutions

27 individuals charged in criminal proceedings
139 criminal charges laid

7 custodial sentences, including fully suspended sentences (2 people imprisoned)
11 non-custodial sentences

81 defendants prosecuted for strict liability offences
171 criminal charges laid in summary prosecutions for strict liability offences
Civil penalties

$145.8m in civil penalties imposed by the courts

7 civil penalty cases commenced

40 civil penalty cases currently before courts
Bannings

31 individuals removed or restricted from providing financial services or credit
27 individuals disqualified or removed from directing companies
Infringement notices

2 infringement notice issued
$26,640 in infringement penalties paid
Investigations

60 investigations commenced
148 investigations ongoing
Financial services enforcement outcomes
Table 1: Financial services enforcement outcomes (number of respondents by misconduct and remedy type)
Misconduct type | Criminal | Civil | Administrative | Total |
---|---|---|---|---|
Credit misconduct | 2 | 6 | 12 | 20 |
Financial advice misconduct | 2 | 5 | 7 | 14 |
Insurance misconduct | 0 | 2 | 0 | 2 |
Investment management misconduct | 1 | 3 | 6 | 10 |
Superannuation misconduct | 1 | 5 | 2 | 8 |
Total | 6 | 21 | 27 | 54 |
One criminal result in the ‘Investment management misconduct’ category, one administrative result in the 'Credit misconduct' category, and one administrative result in the 'Superannuation misconduct' category was under appeal as at 1 July 2022.
Table 2: Financial services enforcement litigation in progress (number of respondents as at 1 July 2022)
Misconduct type | Criminal | Civil | Total |
---|---|---|---|
Credit misconduct | 2 | 8 | 10 |
Financial advice misconduct | 11 | 1 | 12 |
Insurance misconduct | 2 | 7 | 9 |
Investment management misconduct | 5 | 3 | 8 |
Superannuation misconduct | 6 | 5 | 11 |
Total | 26 | 24 | 50 |
Markets enforcement outcomes
Table 3: Markets enforcement outcomes (number of respondents by misconduct and remedy type)
Misconduct type | Criminal | Civil | Administrative | Total |
---|---|---|---|---|
Continuous disclosure | 0 | 1 | 0 | 1 |
Insider trading | 2 | 0 | 0 | 2 |
Market manipulation | 0 | 1 | 1 | 2 |
Other market misconduct | 0 | 0 | 1 | 1 |
Total | 2 | 2 | 2 | 6 |
Table 4: Markets enforcement litigation in progress (number of respondents as at 1 July 2022)
Misconduct type | Criminal | Civil | Total |
---|---|---|---|
Continuous disclosure | 0 | 4 | 4 |
Emerging misconduct (cyber, crypto) | 2 | 1 | 3 |
Insider trading | 4 | 1 | 5 |
Market manipulation | 2 | 1 | 3 |
Other market misconduct | 3 | 1 | 4 |
Total | 11 | 8 | 19 |
Corporate governance enforcement outcomes
Table 5: Corporate governance enforcement outcomes (number of respondents by misconduct and remedy type)
Misconduct type | Criminal | Administrative | Total |
---|---|---|---|
Auditor misconduct | 0 | 32 | 32 |
Liquidator misconduct | 0 | 2 | 2 |
Directors' duties and governance failures | 0 | 0 | 0 |
Other corporate governance misconduct | 2 | 0 | 2 |
Total | 2 | 34 | 36 |
Table 6: Corporate governance enforcement litigation in progress (number of respondents as at 1 July 2022)
Misconduct type | Criminal | Civil | Total |
---|---|---|---|
Directors' duties and governance failures | 25 | 1 | 26 |
Other corporate governance misconduct | 1 | 0 | 1 |
Auditor misconduct | 1 | 0 | 1 |
Total | 27 | 1 | 28 |
Small business enforcement outcomes
Table 7: Small business enforcement outcomes (number of respondents by misconduct and remedy type)
Misconduct type | Criminal | Administrative | Total |
---|---|---|---|
Action against persons or companies | 89 | 34 | 123 |
Total | 89 | 34 | 123 |
Table 8: Small business criminal prosecutions in progress (number of respondents by misconduct and remedy type)
Misconduct type | Criminal | Total |
---|---|---|
Action against persons or companies | 86 | 86 |
Total | 86 | 86 |
Editor's note:
On 16 August 2022 we made minor updates to some of the data in the Summary of enforcement outcomes table and Table 7.