The corporate watchdog has reported a sharp uptick in enforcement and a broader push to simplify regulation, with its latest annual report pointing to stepped-up activity across markets supervision, superannuation and scam disruption.
ASIC Chair Joe Longo said investments in digital systems, cyber resilience and data analytics had bolstered the regulator’s work. ‘The ongoing operational uplift at ASIC has helped to deliver a 50% increase in investigations, an almost 20% increase in new civil enforcement proceedings and the completion of 829 targeted surveillances,’ said Mr Longo.
‘ASIC has also commenced a significant program of regulatory work.
‘We are shining a light on Australia’s capital markets through our public and private markets work, building stronger retirement outcomes with our superannuation members services work, and fostering efficiency as part of our regulatory simplification work.’
According to the report, in 2024–25 ASIC:
– published its first discussion paper on the dynamics of Australia’s public and private markets
– launched the Regulatory Simplification Consultative Group
– opened an inquiry into ASX governance, capability and risk management following “serious and repeated failures” — scrutiny that follows years of problems linked to the abandoned CHESS replacement project and operational outages
– identified failings in the handling of death benefits in superannuation and commenced enforcement against Cbus and AustralianSuper
– reviewed the use of AI by financial services and credit licensees
– took down more than 6,900 investment scam and phishing websites
– secured $104.1 million in court‑ordered civil penalties and $16.8 million in criminal fines.
The regulator framed the programme as part of a shift to a more proactive stance on emerging risks, including the growth of private credit and the deployment of artificial intelligence across financial services.
Mr Longo said that ASIC was becoming the modern, confident and ambitious regulator that Australians need. ‘ASIC’s ongoing work demonstrates that ASIC responds to emerging challenges in the broader financial ecosystem, from the advent of AI to the increasing dominance of private credit in our capital markets. We are taking impactful enforcement action and a leading approach to solving regulatory problems to protect consumers and support the integrity of our markets.’
The ASIC Annual Report 2024–25 is available on the regulator’s website.
