The Australian Securities & Investments Commission published its enforcement and regulatory update for July to December 2025, reporting a six-month record of $349.8 million in court-ordered civil penalties and $583 million expected to flow back to Australians through remediation, refunds and other payments linked to its work. ASIC also released its reports of misconduct data for the same period, showing a 28% increase versus the previous six months, driven by corporate governance concerns including failures to provide company records. Major penalty outcomes cited include ANZ’s $250 million in combined penalties for widespread misconduct and systemic risk failures, Cbus’s $23.5 million for failures processing death benefits and insurance claims, RAMS Financial Group’s $20 million for compliance failures in arranging home loans, and NAB and AFSH Nominees Pty Ltd’s $15.5 million for hardship failures. Remediation and payments included court-enforceable undertakings for Macquarie to pay $321 million to around 3,000 Shield Master Fund investors and for Netwealth to pay $101 million to more than 1,000 First Guardian Master Fund investors, plus $161 million in refunds for low-income customers in high-fee accounts (including $68 million announced by Commonwealth Bank in December) and $975,000 made available to support claims by victims of the Sterling First collapse following ASIC’s intervention in related private proceedings. Operationally, ASIC reported 123 investigations launched, 518 surveillances completed, 23 new civil proceedings filed, 11 criminal prosecutions commenced and 17 criminal convictions recorded, alongside $6.9 million in infringement notices and $137,315 in criminal fines; it also noted a 14-year prison sentence imposed by the Supreme Court of Western Australia in an ASIC criminal investigation, subject to appeal. ASIC noted that the $349.8 million figure reflects penalties ordered by courts during the reporting period and excludes proposed or agreed penalties still subject to court approval in 2026, while the $583 million figure reflects announcements during the period and may be paid before or after the reporting window as programs progress.
Australian Securities & Investments Commission 2026-02-25
Australian Securities & Investments Commission reports record $349.8 million civil penalties and 28% increase in misconduct reports for July to December 2025
The Australian Securities & Investments Commission reported a record $349.8 million in court-ordered civil penalties and $583 million expected in remediation and refunds for July to December 2025. Major penalties included ANZ’s $250 million for misconduct and systemic risk failures, and Macquarie’s $321 million payment to Shield Master Fund investors. ASIC noted a 28% increase in misconduct reports, driven by corporate governance issues, and detailed significant activities including 123 investigations and 23 new civil proceedings.