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