The Australian Securities & Investments Commission has published its Key issues outlook 2026, setting out an unranked list of system-wide risks it expects to cut across all sectors it regulates and to shape its supervisory and enforcement focus amid heightened consumer pressures, evolving market structure and accelerating digitalisation. Key issues include increased retail exposure to private credit and other private market products, with investment thresholds as low as around AUD 2,000 and platform access (including via superannuation) raising risks of unsuitable product selection and decision-making without adequate disclosure in inherently less transparent markets. Superannuation is also a major focus, with operational failures by trustees and administrators flagged as a source of member harm as almost three million Australians become eligible to access superannuation over the next decade and more than AUD 750 billion is expected to move from accumulation into retirement. The outlook also highlights high-pressure sales tactics and “cookie-cutter” advice models driving switches into complex, high-risk investments, noting 12 court cases underway related to the Shield and First Guardian matters, alongside concerns about automated and AI-driven interactions (including agentic AI) and a rise in AI-enabled cybercrime and broader cyber and operational resilience weaknesses. Additional priorities include regulatory perimeter gaps for emerging participants in digital assets, payments and AI, poor insurance claims handling following extreme weather events (with court proceedings commenced for serious failures), and risks of market disruption from CHESS replacement implementation and continued reliance on ageing infrastructure after the December 2024 outage, with the first replacement phase due in 2026. ASIC also points to weaknesses in financial reporting, sustainability reporting and audit quality, and warns that competitive pressures in banking could be driving riskier strategies that result in consumer harm.
Australian Securities & Investments Commission 2026-01-27
Australian Securities & Investments Commission publishes 2026 risk outlook focusing on private markets, superannuation operations and AI driven cyber threats
The Australian Securities & Investments Commission's Key Issues Outlook 2026 identifies system-wide risks impacting its regulatory focus, including increased retail exposure to private market products, superannuation operational failures, high-pressure sales tactics, and AI-driven cybercrime. Additional priorities include regulatory gaps in digital assets, poor insurance claims handling, and risks from CHESS replacement and ageing infrastructure.