Royal Commission – enforcement action accelerates

Disqualified, banned, suspended, fined, criminal prosecution and civil proceedings – just six of the continuing headlines that seem to be issued on an almost daily basis by ASIC.  Anyone who thought that the flurry of activity after the Royal Commission would soon die down are seriously mistaken.

If anything, ASIC, having found its baby teeth at the beginning of 2019, enters the new decade with a sharp new set – and it’s using them.  ASIC has always been clear the Royal Commission Report had to be a watershed moment in respect of treating customers fairly and seeing better customer outcomes as a result of the review.  ASIC clearly has a wide range of tools to ensure change happens and it is not shying away from utilising them.

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The current mantra from regulators across the globe is ‘you know we are coming, the least you can do is prepare’!  We agree, give us a call to see how we can help.