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ARTICLE · 03 AUGUST 2025

ASIC Enforcement – Comparison Websites

Sophie Grace Pty Ltd
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ASIC alleges that Choosi misled customers through its comparison services in contravention of sections 12DB and 12DF of the ASIC Act 2001.

AustraliaFinance and Banking
Chloe Yoo
Chloe Yoo
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Australian Financial Services Licence ("AFSL") holders that are in the business of comparing financial products are now at the centre of ASIC's latest enforcement action.

ASIC recently announced that it was suing insurance comparison provider, Choosi Pty Ltd ("Choosi"). ASIC alleges that Choosi misled customers through its comparison services in contravention of sections 12DB and 12DF of the ASIC Act 2001. It is alleged that Choosi made claims that it compared products from a range of funeral and life insurers, when in fact, it's comparisons only included policies issued by a single insurer which was associated with Choosi (Greenstone Financial Services Pty Ltd).

ASIC's enforcement action against Choosi shows the regulator's commitment to consumer-focused actions and, to stopping licensees from taking advantage of consumers.

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