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ARTICLE · 11 FEBRUARY 2024

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ASIC priorities in 2024

Sophie Grace Pty Ltd
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Licensees should review ASIC's 2024 enforcement priorities to further enhance compliance processes and procedures.

AustraliaFinance and Banking
Olga Veselovskaia
Olga Veselovskaia
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ASIC has released its enforcement priorities for 2024 outlining the key areas where its resources and expertise will be directed in order to protect market integrity, consumers, and investors.

New Priorities for 2024

New priorities that relate to small business, compliance with the reportable situation regime, gatekeepers that facilitate misconduct, used car financing and market operators were added to the 2024 priorities list.

ASIC's 2024 priorities include:

  1. Member services failures in the superannuation sector;
  2. Misconduct resulting in the systematic erosion of superannuation balances;
  3. Insurance claims handling (with the focus on delays in claims handling, poor communication and record keeping, and inappropriate use of exclusions);

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