ASIC has released its Enforcement and regulatory update (1 January to 30 June 2024), which sets out recent outcomes in enforcement and regulation.
Its 2024 priorities are:
- Enforcement action targeting poor distribution of financial products
- Misconduct resulting in the systematic erosion of superannuation balances
- Enforcement action targeting gatekeepers facilitating misconduct
- Misleading conduct in relation to sustainable finance including greenwashing
- Insurance claims handling
- Misconduct relating to used car financing to vulnerable customers including brokers, car dealers and finance companies
- High-cost credit and predatory lending practices to consumers and small business
- Compliance with the reportable situation regime
- Compliance with financial hardship obligations
- Member services failures in the superannuation sector
- Conduct impacting small business including small business creditors
- Technology and operational resilience for market operators and market participants
ASIC has also published its updated regulatory developments timetable for the next 6 months which outlines proposed timeframes for ASIC regulatory work, such as the publication of draft or final guidance, anticipated making of a legislative instrument or publication of insights arising from thematic surveillances. The timetable excludes enforcement activities.
If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.
Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
