In a speech for the outgoing chair’s final appearance before Parliament’s oversight committee, the Australian Securities & Investments Commission set out a sharply expanded enforcement record but warned that funding pressures could constrain that program. Formal investigations rose from 110 in 2020-21 to 252 in 2024-25, the dollar value of penalties obtained has quadrupled, and approximately AUD 484 million in penalties had been secured as at 27 May, excluding matters still subject to court approval. ASIC said the Enforcement Special Account is forecast to fall by 30 June to the minimum balance needed to manage the risk of adverse court orders, and that without replenishment this would impede its ability to maintain the current enforcement program. The remarks, delivered alongside incoming Chair Sarah Court, also highlighted broader operational priorities. More and faster criminal cases will require not only the Federal Court’s expanded criminal jurisdiction but greater capacity at the Director of Public Prosecutions to assess and act on ASIC referrals. Beyond litigation, the regulator pointed to work on climate disclosure, digital assets, the banking code, public and private markets, scams and regulatory simplification, and described investment in data, AI and other technology as critical to staying effective. It cited a pilot using advanced supercomputing with the University of Technology of Sydney’s Human Technology Institute and the Pawsey Supercomputing Research Centre, and noted government funding of AUD 97.3 million for RegistryConnect Tranche 2. On consumer and investor protection, ASIC welcomed AUD 10.3 million to strengthen oversight of the managed investment schemes sector through improved digital capability and access to non-ASIC government data, along with a further AUD 6.2 million over four years and AUD 1.4 million ongoing to strengthen governance and supervision. The regulator said it is engaging with Treasury and Government on replenishing the Enforcement Special Account.
Australian Securities & Investments Commission2026-05-29
Australian Securities & Investments Commission warns Enforcement Special Account is nearing minimum balance in outgoing chair's final committee appearance
The Australian Securities & Investments Commission reported a sharp increase in enforcement activity, including formal investigations rising from 110 in 2020–21 to 252 in 2024–25 and approximately AUD 484 million in penalties secured as at 27 May, but warned that funding pressures on the Enforcement Special Account could constrain this program. ASIC outlined priorities in criminal enforcement, climate disclosure, digital assets, markets oversight, scams and regulatory simplification, and highlighted investments in data and artificial intelligence, supported by government funding for RegistryConnect and enhanced oversight of managed investment schemes.