ASIC has updated information on the circumstances where it will make a public comment on investigations and enforcement actions.

The change to Information Sheet 152 Public comment (INFO 152) reflects the fact that ASIC obtains many enforcement outcomes that do not involve criminal, civil or administrative proceedings. These outcomes include ASIC accepting enforceable undertakings and agreements by people to change their conduct.

INFO 152 now makes it clear that ASIC will usually issue a media release or media advisory in these circumstances, as well as:

• at the time of a person’s first court appearance in criminal proceedings

• when originating documents in civil proceedings are filed and served, and

• when we refer a case to the Takeovers Panel.

ASIC will also issue a release or advisory on the outcome of these actions.

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Revised INFO 152

Background

INFO 152 helps stakeholders understand how and when we can comment on investigations.

ASIC has also recently released information about its approach to dealing with whistleblower reports as part of ASIC’s commitment to improving its communication and handling of information brought to its attention by whistleblowers: Information Sheet 52 Whistleblowers and whistleblower protection (INFO 52).

Other policy documents that discuss how ASIC undertakes investigations and enforcement activity are:

• Information Sheet 151 ASIC’s approach to enforcement (INFO 151). This discusses how ASIC approaches enforcement and why it responds to different breaches of the law in different ways.

• Regulatory Guide 100 Enforceable undertakings (RG 100) outlines what an enforceable undertaking (EU) is and when ASIC will consider accepting an enforceable undertaking.