The Australian Securities & Investments Commission (ASIC) used its opening statement to the Senate Economics Legislation Committee’s additional budget estimates hearing to outline key elements of its 2025 work program, including senior executive changes, work on public and private markets, simplification efforts, and enforcement priorities and recent outcomes. Scott Gregson will take over as Chief Executive Officer on 17 March, replacing retiring interim CEO Greg Yanco, while Amy Nichol was appointed General Counsel and Chief Financial Officer Peter Dunlop’s role broadened to Executive Director Enterprise Services. ASIC also released a discussion paper on key and emerging issues in public and private markets, noting initial public offerings at a decade low and significant growth in private capital funds, and seeking feedback to help shape its priorities and future work program, including the regulatory balance between market accessibility and risk mitigation. Separately, the ASIC Simplification Consultative Group held its first meeting and will identify ways to streamline administration of the law, reduce unnecessary bureaucracy, and simplify guidance and legislative instruments. On enforcement, ASIC reported that investigations and civil litigation filings increased by more than 20% last year and highlighted recent actions including a AUD 27 million penalty against AustralianSuper, penalties and disqualifications for two former Star Entertainment executives with proceedings continuing against nine other former directors and officers, a ban on the former director of JB Markets from carrying on a financial services business, and interim freezing orders tied to the Shield Master Fund investigation. ASIC reiterated its enforcement priorities launched in November 2024, including targeting misconduct that exploits consumers and superannuation savings, business models that avoid consumer credit protections, and insider trading, supported by a new dedicated insider trading team.

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