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Friday 31 May 2019

19-122MR ASIC releases market integrity report

ASIC has today released its latest report on market integrity for the period 1 July to 31 December 2018.

The report highlights some of the activities undertaken to safeguard Australia’s financial markets, so investors can continue to participate with confidence.

Key outcomes during the six-month period include:

Criminal Proceedings

Criminal actions

  • 2 people charged in criminal proceedings
  • 4 criminal charges laid against 2 people
  • 1 person found guilty of 2 charges
Civil Outcomes

Civil outcomes

  • $3.65 million in civil penalties
  • 3 court enforceable undertaking
  • $15.5 million in community benefit payments
Bannings

Bannings and infringement notices

  • 2 infringement notice issued
  • $153,000 in infringement notices paid
  • 3 people banned from providing financial services
  • 2 Australian financial services licences cancelled

The report looks at ASIC’s recent focus on high-frequency trading, changes to reporting requirements, and enhanced supervision and onsite reviews. It also looks at some of our key activities over the last six months in areas such as BBSW surveillance, FX margin practices, and misleading ICOs and crypto-asset funds.

ASIC Commissioner Cathie Armour said, ‘Maintaining the integrity of Australia’s financial markets is crucial to a prosperous economy. At ASIC, we do this by setting standards and educating stakeholders, pursuing behavioural change and taking enforcement action to disrupt market misconduct.’

ASIC’s markets team will continue to focus on the following existing and emerging risks.

  1. Conduct governance
  2. Technology risk and resilience
  3. Effective capital markets
Last updated: 31/05/2019 12:00