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

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.