Public reporting by ASIC – Breaches

Since the new breach reporting regime commenced on 1 October 2021, ASIC has been monitoring its effective implementation. ASIC has developed a comprehensive plan to ensure the new regime meets the objectives for consumers, industry and ASIC. Among other things, Australian financial services licensees and Australian credit licensees (together "Licensees") should pay close attention to the annual public report that ASIC is required to publish as part of the new regime.

What Information Will ASIC Publish in The Report?

The public reports are intended to help Licensees identify where significant breaches are occurring and target their efforts to deliver best practice compliance outcomes in those areas. They will be available on ASIC's website within 4 months of the end of each financial year.