ASIC gets busier, and bolder
Is the corporate cop finally hitting its stride after years of being the “poor cousin” of Australia’s regulators?
After a flurry of “big fish” prosecutions, the Australian Securities and Investments Commission (ASIC) is on track to have its busiest year in the courts since the days of the banking royal commission.
The corporate regulator told Capital Brief it has already launched 31 civil prosecutions this financial year, compared with 32 in 2023-24 and 26 in 2022-23. More can be expected in June, a typically busy month for regulators.
Add to that a sharp rise in investigations, which should ensure a steady pipeline of new prosecutions. ASIC said that by the end of April it had launched 193 investigations in 2024-25 — already well clear of the past two financial years (168 and 134).
It has some high-profile cases on foot, including proceedings against Star Entertainment, ASX and Macquarie Securities, and a beefed up penalty regime post the royal commission that allows for fines of up to $825 million.
