ASIC reports on its activities for Jan-Jun 2018

ASIC recently released its enforcement outcomes report for 1 January 2018 to 30 June 2018. 

ASIC has been involved in: 

  • Sixty-seven investigations commenced
  • Seventy-three investigations completed
  • Sixty-eight people or companies removed or restricted in providing financial services
  • Twenty people removed or disqualified from directing companies
  • Thirteen people charged in criminal proceedings
  • Over 200 criminal charges laid
  • Over 175 people charged in summary prosecutions for strict liability offences
  • Over 340 criminal charges laid in summary prosecutions for strict liability offences

Over $20 million has been paid in civil penalties, with over $250 million paid back to investors and consumers. 

Hundreds of thousands of dollars has been paid across 16 infringement notices. Enforceable undertakings have been entered into by 16 companies, with $7.6 million paid to community benefit funds. 

Over the next six months, ASIC will be focusing on: 

  • Poor financial reporting
  • Auditing quality
  • Responsible lending practices
  • AFS monitoring and supervision of financial advisers
  • Financial benchmark integrity



Download Report 585, ASIC enforcement outcomes January to June 201