ASIC has updated Regulatory Guide 98 Licensing: Administrative action against financial services providers (RG 98) to include additional sections on ASIC’s new powers to supervise market participants. For AFS licensees who are market participants – in addition to the general remedies – ASIC may also ask the Markets Disciplinary Panel (MDP) to issue an infringement notice.

Compliance with an infringement notice may involve the payment of a penalty, undertaking remedial measures, accepting sanctions or entering into an enforceable undertaking.