ASIC has released Report 299 ASIC enforcement outcomes: January to June 2012 (REP 299) which provides statistics about ASIC’s enforcement activities in the period 1 January 2012 to 30 June 2012.

The report summarises ASIC’s actions against a range of “gatekeepers” in the Australian financial system, such as financial advisers, insurance brokers, credit licensees, insolvency practitioners, auditors and directors.

The report gives examples of past action against gatekeepers with reference to 4 key duties: honesty, competence, diligence and management of conflicts of interest.