Summary of enforcement outcomes: January to June 2024

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 2024.

Contents:

• Summary of enforcement outcomes
• Financial services enforcement outcomes
• Markets enforcement outcomes
• Corporate governance enforcement outcomes
• Small business enforcement outcomes

Summary of enforcement outcomes

Figure 1: Summary of enforcement outcomes (1 January to 30 June 2024)

Note: Figure 1 summarises all enforcement outcomes recorded between 1 January and 30 June 2024, including those that have not been reported in public announcements. For example, outcomes arising from summary prosecutions for strict liability offences are not generally announced in ASIC media releases.

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	1	1	2	4
Financial advice misconduct	-	2	31	33
Insurance misconduct	-	-	-	-
Investment management misconduct	1	5	8	14
Superannuation misconduct	-	1	-	1
Other financial services misconduct	-	-	2	2
Total	2	9	43	54

Table 2: Financial services enforcement litigation in progress (number of matters as at 1 July 2024)

Misconduct type	Criminal	Civil	Total
Credit misconduct	5	17	22
Financial advice misconduct	8	10	18
Insurance misconduct	2	5	7
Investment management misconduct	12	8	20
Superannuation misconduct	5	6	11
Other financial services misconduct	2	5	7
Total	34	51	85

Markets enforcement outcomes

Table 3: Markets enforcement outcomes (number of respondents by misconduct and remedy type)

Misconduct type	Criminal	Civil	Administrative	Total
Continuous disclosure	-	2	-	2
Insider trading	1	1	-	2
Market manipulation	1	2	2	5
Other market misconduct	2	2	7	11
Total	4	7	9	20

Table 4: Markets enforcement litigation in progress (number of matters as at 1 July 2024)

Misconduct type	Criminal	Civil	Total
Continuous disclosure	-	5	5
Emerging misconduct (cyber, crypto)	-	2	2
Insider trading	6	-	6
Market manipulation	-	-	-
Other market misconduct	3	4	7
Total	9	11	20

Corporate governance enforcement outcomes

Table 5: Corporate governance enforcement outcomes (number of respondents by misconduct and remedy type)

Misconduct type	Criminal	Civil	Administrative	Total
Auditor misconduct	-	-	18	18
Liquidator misconduct	-	-	-	-
Directors' duties and governance failures	2	-	19	21
Other corporate governance misconduct	1	-	-	1
Total	3	-	37	40

Table 6: Corporate governance enforcement litigation in progress (number of matters as at 1 July 2024)

Misconduct type	Criminal	Civil	Total
Auditor misconduct	3	1	4
Directors' duties and governance failures	24	5	29
Illegal Phoenix	3	-	3
Other corporate governance misconduct	5	1	6
Total	35	7	42

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	82	11	93
Total	82	11	93

Table 8: Small business criminal prosecutions in progress (number of matters by misconduct and remedy type) (number of matters as at 1 July 2024)

Misconduct type	Criminal	Total
Action against persons or companies	135	135
Total	135	135