- with readers working within the Accounting & Consultancy, Banking & Credit and Insurance industries
- within Government and Public Sector topic(s)
- with Senior Company Executives, HR and Finance and Tax Executives
ASIC has announced its enforcement priorities for 2026 and there is a continued focus on preventing consumer harm, penalising misleading conduct and the private credit and insurance industries. ASIC Deputy Chair, Sarah Court said "'In the last 12 months, we've doubled the number of new investigations and nearly doubled the number of new matters filed in court." Licensees are on notice that ASIC will investigate and will enforce obligations across a broad range of industries.
2026 Priorities
ASIC's enforcement priorities for 2026 include:
- Claims and complaint handling failures by insurers
- Misconduct and predatory credit practices, particularly impacting consumers facing financial difficulty
- Misleading pricing practices
- Financial reporting misconduct
- Poor private credit practices
- Strengthening investigation and prosecution of insider trading conduct
ASIC's enduring priorities remain the same from year to year and inform the enforcement priorities announced each year. The enduring priorities are:
- Misconduct damaging marketing integrity
- Misconduct involving a high risk of consumer harm
- Systemic compliance failures by large institutions
- Misconduct involving First Nations people
- Governance and directors' duties failures
- New or emerging conduct risks within the financial system
Action to take
In her recent speech, Ms Court indicated that licensees must take compliance seriously and noted the importance of substance over form. Licensees must document their compliance policies and procedures, but must also take action to ensure these policies are implemented and actively adhered to in the course of providing credit or financial services.
All licensees should be aware of ASIC's enforcement priorities, but particularly those in the insurance and the private credit industries.
ASIC's surveillance report on private credit funds serves as a reminder that ASIC is elevating its enforcement work in this space. Court action has already been commenced in relation to the collapse of the Shield Master Fund. This is a reminder for the private credit industry to consider the guidance in ASIC's surveillance report and consider policies on:
- Governance
- Fund disclosure and transparency
- Conflicts of interest
- Fees and disclosure
- Valuations
- Managing liquidity and credit risk
In the insurance industry, ASIC's enforcement in 2026 will focus on claims and complaint handling. Insurers, brokers and claims handling licensees should revise their complaint management procedures and consider further training for representatives on these issues. In relation to claims management, given ASIC's enduring priorities, licensees should ensure a policy exists to manage claims from vulnerable consumers and that representatives know what the policy requires of them when dealing with vulnerable consumers.
If you require assistance reviewing your compliance documents - please contact us here.
Further Reading
- ASIC Enforcement Priorities
- Deputy Chair Sarah Court Speech: The power and purpose of enforcement
- ASIC Report 820: Private credit surveillance - retail and wholesale funds
- ASIC announces 2026 enforcement priorities
- Dispute Resolution Package - Credit Licence
- Dispute Resolution Package - AFSL
- Vulnerability and Hardship Policy - AFSL
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
