In a speech on ASIC’s 2025-26 corporate plan, ASIC Commissioner Simone Constant set out five strategic priorities and highlighted near-term supervisory and policy work focused on superannuation member services and retirement outcomes, integrity and transparency across Australia’s capital markets, and the ongoing inquiry into ASX’s operational resilience. On superannuation, the remarks pointed to recent enforcement against three super funds for poor member services and claims handling, a report with 34 recommendations on death benefit claims, and newly commenced civil proceedings against Equity Trustees over alleged due diligence failures concerning the Shield Master Fund. The next phase of ASIC’s member services work will test how trustees use complaints data to identify and address systemic issues, alongside follow-up checks on progress in improving claims handling processes; ASIC also flagged a forthcoming thematic review of retirement-focused member communications under the Retirement Income Covenant, citing APRA findings that one in five trustees cannot track the success of their assistance to members. For capital markets, ASIC referenced its February discussion paper on the shifting balance between public and private markets and said it has already actioned ideas including clearing the path for faster initial public offerings, expanding approved foreign markets and exploring streamlined dual listings. ASIC expects to publish an expert report on the estimated $200 billion private credit sector within three months, with an accompanying surveillance report in November alongside a broader public and private markets report and roadmap, and further proposals. The ASX inquiry announced in June, led by an expert panel, is due to deliver findings before the end of March 2026 to inform ASIC’s next steps.

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