Australia’s corporate regulator will consult on plans to publish two public dashboards containing firm-level Reportable Situations (RS) and Internal Dispute Resolution (IDR) data in the second half of 2025, aiming to lift transparency and performance across the financial sector.
The consultation, set out in CP 383 Reportable situations and internal dispute resolution data publication, builds on ASIC’s high-level insight reports and proposes using the regulator’s legislative powers to publish data submitted by individual firms. ASIC says the dashboards are intended to improve transparency and accountability, spotlight concentrations of significant breaches and complaints, and help firms target improvements in compliance, consumer outcomes and performance.
‘Publishing Reportable Situations and Internal Dispute Resolution data will encourage firms to lift their game. It also provides consumers and investors access to this data at firm level, further encouraging confident and informed participation in the financial system,’ Commissioner Kirkland said.
ASIC is inviting stakeholders to comment on the proposals in CP 383, noting the paper reflects current thinking and may not represent its final approach. The regulator is streamlining engagement by seeking feedback on both data publications through a single process to align its approach where appropriate.
‘We encourage stakeholders to respond to the key questions in our consultation paper. Your engagement will help ASIC assess the full impact of our data publication proposals and consider any alternative approaches,’ Commissioner Kirkland said.
Submissions are due by close of business on Wednesday 14 May 2025 and can be lodged by post to the Australian Securities and Investments Commission, GPO Box 9827, Melbourne VIC 3001, or via email to [email protected]. ASIC encourages respondents to use the tables in Appendix B of the consultation paper.
Under the RS regime, Australian financial services and credit licensees must report compliance breaches to ASIC, and the regulator must publish each year information about reports lodged and the entities to which they relate. The IDR regime requires certain financial firms to report all complaints received through their IDR processes, and ASIC is empowered to publish firm-level information about those complaints.
ASIC has previously released thematic reports on RS and IDR and has foreshadowed publishing more granular, firm-level data following consultation. Its Corporate Plan 2024–25 committed to publishing firm-level IDR data in 2025 and developing a framework for ongoing publication of data received under the RS regime.
