The ASIC Podcast
Episode 64: Markets enforcement outcomes
In this episode, we discuss the work of ASIC’s Markets Enforcement team. We are joined by ASIC Senior Executive Leader, Molly Choucair, to discuss recent Court action against AGM Markets and Antares Energy as well as ASIC’s Immunity Policy.
Published 5 May 2021
Episode 63: ASIC enforcement update July to December 2020
In this episode, we discuss ASIC’s enforcement update for July to December 2020. We are joined by ASIC Commissioner Sean Hughes who takes us through ASIC’s response to the COVID-19 pandemic and its major enforcement outcomes in 2020.
Published 16 April 2021
Episode 62: Corporate governance enforcement outcomes
11 February 2020
In this episode, we discuss the work of ASIC's Corporations and Corporate Governance Enforcement team. We explore ASIC's cases against former Kleenmaid director Mr Andrew Eric Young, former Executive Chairman and Chief Executive Officer of Healthzone Limited, Mr Peter David Roach and former liquidator David Leigh.
Episode 61: Risky business: land banking property investment schemes
15 January 2020
Investing in land and property is certainly not a revolutionary idea. Australians have been investing in bricks, mortar and land for decades, but unfortunately not all property investment schemes are the same. 'Land banking' can produce returns for investors but comes with significant red flags. It is often unregulated, leaving investors without protection if things go wrong. In this episode, we explore some of the land banking schemes shut down by ASIC.
Episode 60: Holes in the safety net: A review of TPD insurance claims
In this episode we discuss the findings and recommendations from ASIC’s thematic review of total and permanent disability (TPD) insurance in Australia including what ASIC expects insurers and superannuation trustees to do to address the poor consumer outcomes. We are joined by the Senior Executive Leader of ASIC's Insurers team, Emma Curtis, and the Senior Executive Leader of the Superannuation team, Jane Eccleston.
Episode 59: Ben Jayaweera found guilty after three-week trial, sentenced to 12 years
18 October 2019
Mr Jayaweera’s former clients were at or near retirement age. He invested their superannuation money into a scheme, an abalone farm, without their knowledge. The abalone farm was then wound up by receivers and liquidators, with no available returns for investors.
Listen to ASIC’s Marita Hogan detail the case against Mr Ben Jayaweera, where he was found guilty after a three-week trial in the Brisbane District Court.
Episode 58: Oversight of non-financial risk
2 October 2019
In this episode, we discuss the first report from ASIC’s Corporate Governance Taskforce: Director and officer oversight on non-financial risk. We are joined by Suneeta Sidhu, the team leader of the Taskforce.
Episode 57: Are car insurance investigations treating consumers fairly?
9 September 2019
In this episode, we discuss ASIC's review of how car insurance claims are investigated where fraud is suspected. We are joined by the Senior Executive Leader of ASIC's Insurers team, Emma Curtis, and the Director of Casework at the Financial Rights Legal Centre, Alexandra Kelly.
Episode 56: ASIC’s case against former director Bradley Silver
6 September 2019
In this episode, we discuss ASIC’s case against Bradley Silver, a former director of a property development company who defrauded his clients of $4.7 million.
Episode 55: ASIC enforcement outcomes, January to June 2019
18 August 2019
In this episode with ASIC Deputy Chair Daniel Crennan QC, we explore ASIC’s Enforcement Update (January to June 2019), ASIC’s Office of Enforcement and work to strengthen ASIC’s enforcement effectiveness by accelerating court-based enforcement matters.
Episode 54: The future of financial services
31 July 2019
In this episode with the Chair and CEO of the Ontario Securities Commission, Maureen Jensen and ASIC Executive Director (Markets) Greg Yanco explore digitisation, changing consumer expectations, disruptive business models, innovation and the future of financial services.
Episode 53: Creating shared value
26 July 2019
In this episode with Peter Yates, Chairman of the Shared Value Project and Deputy Chairman of AIA Australia, ASIC’s Laura Higgins (Senior Executive Leader, Financial Capability) explores how the concept of shared value challenges companies to realign the interest of business and society by redefining their purpose so that generating economic value also produces value for society.
Episode 52: The regulatory toolkit
11 July 2019
In this episode with the Assistant Managing Director (Capital Markets) of the Monetary Authority of Singapore, Lee Boon Ngiap, we explore how regulators deploy their tools to detect, combat and deter misconduct in the financial system.
Episode 51: ASIC's case against former financial adviser James Gibbs
10 July 2019
On 10 July 2019, ASIC’s case against James Gibbs came to a close and he was sentenced to 10 years imprisonment, with a non-parole period of seven years to serve.
James Gibbs stole $4.88 million from his clients when he was acting as their financial adviser. His clients trusted him with their savings, with their money to be used for their retirements, and he devastatingly broke that trust by using that money for his own purposes.
In this episode, we hear from Dallas, one of Mr Gibbs' victims who helped build ASIC's case, as well as ASIC investigator, Chris Rowe.
Episode 50: Balancing consumer choice and protection
26 June 2019
In this interview with the Chair of the European Securities and Markets Authority Steven Maijoor, ASIC Commissioner Sean Hughes explores the balancing act between consumer choice, innovation and consumer protection and the use of product intervention powers by regulators around the world.
Episode 49: ASIC's case against hacker Steven Oakes
25 June 2019
A man sits outside an office building on his laptop. He keeps to himself and passers-by don’t really notice him. He has been outside this office building before, but he is not interested in going inside. Unknown to those around him, and the company operating inside the building, this man is inside their network, accessing confidential information and reading their emails. He’s after inside information.
Steven Oakes was sentenced on 25 June 2019 in the County Court at Melbourne to a total effective sentence of three years imprisonment, and ordered that he be released after serving 18 months of the term of imprisonment, on his own recognisance to be of good behaviour for 18 months, after pleading guilty to a total of 11 charges for insider trading, unauthorised access to data with the intention to commit a serious offence (insider trading) and the alteration of electronic devices required by ASIC.
In this episode, we hear from the investigators behind ASIC’s case - Peter Ridgley and Anthony Vardy.
Read ASIC’s media release (19-153MR) for more information.
Episode 48: International standard setting for insurance supervisors
24 June 2019
In this interview with the Secretary General of the International Association of Insurance Supervisors (IAIS) Jonathan Dixon, ASIC Executive Director (Financial Services) Michael Saadat explores the role of the international standard setting body for insurance regulators - the IAIS, its priorities and challenges, and the impact of advancements in technology on regulation.
Episode 47: The power of a ponzi scheme
10 May 2019
In this episode we take you behind the scenes of a ponzi scheme, where unbelievably good returns are offered to investors, the scheme operator seems to be trustworthy – but it’s all smoke and mirrors.
Episode 46: ASIC enforcement outcomes, July to December 2018
9 April 2019
For more information on ASIC’s enforcement outcomes from July to December 2018, listen to Episode 46 of The ASIC Podcast with ASIC Commissioner Sean Hughes.
Episode 45: Product intervention powers and design and distribution obligations
8 April 2019
ASIC has welcomed the passage of key financial services reforms contained in the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) legislation.
View ASIC media release (19-079MR) for more information.
Episode 44: Former financial adviser Gabriel Nakhl sentenced to 10 years imprisonment
26 March 2019
Mr Nakhl engaged in dishonest conduct and was found guilty in the District Court of New South Wales. The court set Mr Nakhl a non-parole period of 6 years.
View ASIC media release (19-055MR) for more information
Episode 43: Climate risk disclosure
11 October 2018
ASIC Commissioner John Price joins the podcast to discuss ASIC’s review of climate risk disclosure by listed companies in Australia.
Episode 42: Registered liquidators and creditors
19 September 2018
Nisansala Peries from ASIC's Insolvency Practitioners team and Michelle Jakubauskas from ASIC's Behavioural Research and Policy Unit join the podcast to discuss one way registered liquidators can help people who are owed money by a business (creditors) to navigate the complex landscape of an external administration.
Episode 41: ASIC’s review of the credit card market
4 July 2018
Michael Saadat, ASIC's Senior Executive Leader - Deposit takers, Credit and Insurance, joins the podcast to discuss ASIC's review into the credit card market in Australia.
Episode 40: SMSF advice
28 June 2018
Episode 39: Indigenous Outreach trip to the APY Lands
25 June 2018
ASIC's Indigenous Outreach Officer Nathan Boyle talks with Susan Tilley from Anangu Lands Paper Tracker Radio Program about ASIC's work with indigenous consumers and the recent outreach trip to the APY Lands with super funds. Visit the Paper Tracker website to listen to the full interview.
Episode 38: Van Le
4 May 2018
Van Le, Director of Innovation and Strategy at Xinja, was a guest at ASIC's Annual Forum in March 2018. She made time to join us on our podcast to discuss open banking.
Episode 37: Scott Farrell on open banking
30 April 2018
Scott Farrell, Partner at King & Wood Mallesons, joins ASIC SEL Michael Saadat on the podcast to discuss open banking.
Scott headed up the Australian government's review into open banking and was asked to recommend the most appropriate model for open banking in Australia.
Episode 36: ASIC’s Stretch RAP
23 April 2018
On 17 April 2018, ASIC launched its Stretch Reconciliation Action Plan. On this episode, we're joined by Danille Abbott, Chair of ASIC's RAP Strategic Committee and RAP Working Group and descendant of the Wirlomen Noongar people, to talk about the goals of the stretch RAP and ASIC's commitment to reconciliation.
Episode 35: Ian Yates
18 April 2018
Ian Yates, Chief Executive of the Council of the Ageing Australia, joins ASIC Deputy Chair Peter Kell on the podcast to discuss preparing financially for retirement.
Visit ASIC's MoneySmart website for more information on retirement income planning.
Episode 34: Mark McCrindle
12 April 2018
Social researcher Mark McCrindle joins the podcast to discuss home ownership and the changing Australian dream, which was a topic of discussion at ASIC's 2018 Annual Forum.
Episode 33: Close the Gap
28 March 2018
On 16 March 2018, ASIC held a Close the Gap event featuring two leading Indigenous entrepreneurs:
- Liam Ridgeway, co-founder of Ngakkan Nyaagu (NGNY), an Indigenous digital enterprise
- Jasmin Herro, founder of Outback Global, a leading Indigenous supplier of workwear
The Close the Gap campaign aims to create equality in health between Indigenous and non-Indigenous Australians. This campaign also measures progress in economic development and employment, and these aspects were the focus of ASIC's event.
Liam and Jasmin were also kind enough to speak on our podcast after the event. In the episode, you will hear from Liam and Jasmin about how and why they started their businesses and what impact they seek to have as Indigenous entrepreneurs.
Episode 32: Add-on insurance
16 March 2018
ASIC Senior Executive Leader Michael Saadat joins the podcast to discuss add-on insurance, and ASIC's work to shine a light on poor practice, remediation outcomes, and efforts to protect consumers in the future.
Episode 31: Conflicts of interest in financial advice
5 February 2018
ASIC Senior Executive Leader Jo Bird joins the podcast to talk about the results of Report 562: Financial advice: vertically integrated institutions and conflicts of interest, a new report into conflicts of interest in financial advice at the biggest financial institutions in Australia.
Episode 30: Risk management systems
19 January 2018
ASIC Senior Manager Tim Walker joins the podcast to discuss Regulatory Guide 259, the importance of well-implemented risk management systems, and ASIC's expectations in this area.
Episode 29: ASIC’s Annual Report
26 October 2017
Former ASIC Chairman Greg Medcraft joins the podcast to discuss ASIC's Annual Report for 2016-17.
Episode 28: ASIC's Data Strategy
19 September 2017
ASIC's Chief Data Officer John Wallace joins the podcast to discuss ASIC's 2017-20 Data Strategy. You can read the data strategy at ASIC's website.
Episode 27: ASIC's approach to small business
7 September 2017
Episode 26: Investors and initial public offerings
31 August 2017
Jane Eccleston, ASIC Senior Executive Leader, Corporations, joins the podcast to discuss ASIC's recent report into investors and initial public offerings.
Both the media release and the report can be found here.
Episode 25: Crowd-sourced funding
19 July 2017
ASIC Commissioner John Price joins the podcast to discuss recent law reform around crowd-sourced funding and ASIC's role in administering the new legislation.