ASIC enforcement priorities
ASIC's enforcement priorities reflect our focus areas and include emerging issues and risks we will prioritise to detect, investigate and prosecute unlawful conduct affecting consumers, businesses and the economy.
2026 priorities
Misleading pricing practices impacting cost of living for Australians
Poor private credit practices
Financial reporting misconduct including failure to lodge financial reports
Misconduct exploiting consumers facing financial difficulty including predatory credit practices
Continuing our work to hold those responsible to account for the collapse of the Shield and First Guardian Master Funds
Claims and complaint handling failures by insurers
Unlawful practices seeking to evade small business creditors
Holding super trustees to account for member services failures
Strengthening investigation and prosecution of insider trading conduct
Auditor misconduct
Enduring priorities
Misconduct damaging market integrity
including insider trading, continuous disclosure breaches and market manipulation
Misconduct impacting First Nations people
Misconduct involving a high risk of significant consumer harm
particularly conduct targeting financially vulnerable consumers
Systemic compliance failures by large financial institutions
resulting in widespread consumer harm
New or emerging conduct risks within the financial system
Governance and directors’ duties failures
More information
Hear from ASIC Deputy Chair Sarah Court in the video below.
ASIC's enforcement priorities 2026 - text version
ASIC continues to deliver strong, visible and active enforcement outcomes; taking more matters to court and securing record penalties.
In the last 12 months we’ve doubled the number of new investigations and nearly doubled the number of new matters filed in court. We’ve also worked hard to increase our criminal prosecutions, and seen lengthy sentences imposed for financial fraud offences.
Notably, we have proposed a record $240 million in penalties against ANZ, which, if imposed by the court, will see the largest combined penalties we’ve ever levelled against a single entity.
We have also filed important proceedings against Macquarie resulting in $320 million paid to affected Shield Master Fund investors.
And we’ve secured a 14 year prison sentence for a West Australian fraudster – the highest sentence imposed by an Australian court in relation to an ASIC criminal investigation.
Each year, we set enforcement priorities to clearly communicate where we’ll focus our resources and expertise.
These priorities are designed to send a clear and effective signal to the market about our areas of focus, while reflecting emerging risks and the challenges Australians face, especially as many contend with a higher cost of living.
This year, we’re sharpening our focus on misleading pricing practices - particularly those that make everyday costs harder for Australians. We’re also targeting poor practices by insurers, who need to ensure they handle claims and complaints fairly while premiums rise.
In one of our largest and most complex investigations, we remain committed to holding to account those responsible for the collapses of the Shield and First Guardian Master funds. In addition, we’re intensifying our scrutiny of private credit fund misconduct, financial reporting failures, and predatory lending that targets people in financial difficulty.
Small businesses, superannuation members, and market integrity remain front and centre. We’re strengthening our work on insider trading and continuing our focus on auditor misconduct.
While our priorities evolve with the changing economic and market landscape, our enduring priorities remain - protecting First Nations and vulnerable consumers, upholding market integrity, acting where we see systemic failures, and ensuring a fair, strong, and efficient financial system for all Australians.
To find out more about our enforcement priorities for 2026, visit the ASIC website.
ASIC enforcement priorities 2025
Misconduct exploiting superannuation savings
Unscrupulous property investment schemes
Failures by insurers to deal fairly and in good faith with customers
Strengthening investigation and prosecution of insider trading
Business models designed to avoid consumer credit protections
Misconduct impacting small businesses and their creditors
Debt management and collection misconduct
Licensee failures to have adequate cyber-security protections
Greenwashing and misleading conduct involving ESG claims
Member services failures in the superannuation sector
Auditor misconduct
Used car finance sold to vulnerable consumers by finance providers
Enduring priorities
Misconduct damaging market integrity
including insider trading, continuous disclosure breaches and market manipulation
Misconduct impacting First Nations people
Misconduct involving a high risk of significant consumer harm
particularly conduct targeting financially vulnerable consumers
Systemic compliance failures by large financial institutions
resulting in widespread consumer harm
New or emerging conduct risks within the financial system
Governance and directors’ duties failures
ASIC enforcement priorities 2024
ASIC's enforcement priorities for 2024 focus on the need to protect consumers from financial harm and uphold the integrity of Australia’s financial markets.
These priorities communicate our intent to industry and our stakeholders, and give a clear indication of where we will direct our resources and expertise.
2024 priorities
Enforcement action targeting poor distribution of financial products
Misleading conduct in relation to sustainable finance including greenwashing
High-cost credit and predatory lending practices to consumers and small business
Member services failures in the superannuation sector
Misconduct resulting in the systematic erosion of superannuation balances
Insurance claims handling
Compliance with the reportable situation regime
Conduct impacting small business including small business creditors
Enforcement action targeting gatekeepers facilitating misconduct
Misconduct relating to used car financing to vulnerable consumers including brokers, car dealers and finance companies
Compliance with financial hardship obligations
Technology and operational resilience for market operators and market participants
Enduring priorities
Misconduct damaging market integrity
including insider trading, continuous disclosure breaches and market manipulation
Misconduct impacting First Nations people
Misconduct involving a high risk of significant consumer harm
particularly conduct targeting financially vulnerable consumers
Systemic compliance failures by large financial institutions
resulting in widespread consumer harm
New or emerging conduct risks within the financial system
Governance and directors’ duties failures
ASIC enforcement priorities 2023
ASIC's enforcement priorities for 2023 focus on the need to protect consumers from financial harm and uphold the integrity of Australia’s financial markets.
These priorities communicate our intent to industry and our stakeholders, and give a clear indication of where we will direct our resources and expertise.
2023 priorities
Enforcement action targeting poor design, pricing and distribution of financial products
including in relation to insurance, superannuation and other investment products and credit
Misleading conduct in relation to sustainable finance including greenwashing
Misconduct involving high risk products including crypto assets
Combating and disrupting investment scams
including working with other regulators, industry and social media platforms to reduce consumer harm
Protecting financially vulnerable consumers
impacted by predatory lending practices or high-cost credit including conduct by unlicensed or 'fringe' entities
Misleading and deceptive conduct relating to investment products
which obscures the risk, performance or nature of financial products
Misconduct in the superannuation sector
including misleading conduct and poor governance
Failures by providers of general insurance
to deliver on pricing promises to consumers
Misconduct that involves misinformation through social media
about investment products, including 'finfluencer' conduct
Governance and directors' duties failures
including those related to property schemes that expose investors to significant loss
Manipulation in energy and commodities derivatives markets
Unfair contract terms
including in insurance products
Enduring priorities
Misconduct that damages market integrity
including insider trading, continuous disclosure breaches or failures and market manipulation
Misconduct impacting First Nations people
Misconduct involving a high risk of significant consumer harm
particularly conduct targeting financially vulnerable consumers
Systemic compliance failures by large financial institutions
resulting in widespread consumer harm