ASIC has today released its first quarterly update report, which covers the period from 1 January to 31 March 2021.
The January to March 2021 period saw ASIC continue to support Australia’s economic recovery from the COVID-19 pandemic. We supported banks, superannuation trustees and insolvency practitioners to understand and comply with changes in the regulatory environment. ASIC also provided information to consumers impacted by the COVID-19 pandemic and natural disasters.
During January to March 2021, ASIC continued to progress its work related to Government reforms that expanded ASIC’s role in superannuation to include conduct regulation. We are working closely with APRA to drive good conduct in the superannuation sector.
The report also covers ASIC’s use of new regulatory tools such as the product intervention power, and our preparation for new tools introduced by recent law reforms.