ASIC enforcement priorities

ASIC's enforcement priorities outline its enforcement focus and communicate its intent to industry and stakeholders.

2024 priorities

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Enforcement action targeting poor distribution of financial products

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Misleading conduct in relation to sustainable finance including greenwashing

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High-cost credit and predatory lending practices to consumers and small business

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Member services failures in the superannuation sector

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Misconduct resulting in the systematic erosion of superannuation balances

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Insurance claims handling

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Compliance with the reportable situation regime

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Conduct impacting small business including small business creditors

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Enforcement action targeting gatekeepers facilitating misconduct

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Misconduct relating to used car financing to vulnerable consumers including brokers, car dealers and finance companies

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Compliance with financial hardship obligations

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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

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Enforcement action targeting poor design, pricing and distribution of financial products

including in relation to insurance, superannuation and other investment products and credit

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Misleading conduct in relation to sustainable finance including greenwashing

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Misconduct involving high risk products including crypto assets

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Combating and disrupting investment scams

including working with other regulators, industry and social media platforms to reduce consumer harm

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Protecting financially vulnerable consumers

impacted by predatory lending practices or high-cost credit including conduct by unlicensed or 'fringe' entities

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Misleading and deceptive conduct relating to investment products

which obscures the risk, performance or nature of financial products

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Misconduct in the superannuation sector

including misleading conduct and poor governance

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Failures by providers of general insurance

to deliver on pricing promises to consumers

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Misconduct that involves misinformation through social media

about investment products, including 'finfluencer' conduct

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Governance and directors' duties failures

including those related to property schemes that expose investors to significant loss

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Manipulation in energy and commodities derivatives markets

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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

New or emerging conduct risks within the financial system

Last updated: 21/11/2023 12:42