The Australian Securities and Investments Commission published a speech in which its outgoing chair said ASIC has reorganised itself into a more enforcement-led regulator, relying more heavily on data and technology, announcing annual enforcement priorities and pursuing difficult litigation to drive accountability. The remarks largely recapped recent enforcement and consumer protection work, while flagging further scrutiny of debt management, credit repair, debt collection and motor vehicle finance. ASIC said formal investigations rose from 110 in 2020-21 to 252 in 2024-25, while the value of penalties obtained increased from AUD 24.9 million in 2019-20 to AUD 104.1 million in 2024-25. As of 20 April 2026, it had secured more than AUD 411 million in penalties during the financial year to date, excluding amounts still subject to court approval, and about AUD 421 million had been returned to investors in the Shield Master Fund and First Guardian Master Fund matters. The speech also cited more than AUD 160 million in bank refunds to low-income consumers from Better Banking surveillance, continued monitoring of lenders' hardship practices, almost 12,000 scam and phishing websites removed in the past year, and an expanded presence including a new Darwin office. For next steps, ASIC said it will publish findings in July on problems in the debt management and credit repair sector and later in 2026 report on harm in debt collection and motor vehicle financing, alongside a refreshed small business strategy. The speech also noted the chair's personal view that banning unlicensed communications about superannuation, an issue on which the government is consulting, would help disrupt lead generation models linked to superannuation scams. Deputy Chair Sarah Court is due to become ASIC Chair from June.
Australian Securities & Investments Commission 2026-05-07
Australian Securities and Investments Commission outlines enforcement-led overhaul and flags July debt management and credit repair findings
The Australian Securities and Investments Commission outlined its shift to a more enforcement-led, data- and technology-driven approach, highlighting a sharp rise in investigations and penalties, investor remediation, scam website takedowns, and an expanded regional presence. ASIC flagged forthcoming publications on harms in debt management, credit repair, debt collection and motor vehicle finance, plus a refreshed small business strategy, and noted support for banning unlicensed superannuation communications to combat scams. Deputy Chair Sarah Court will become ASIC Chair in June.