ASIC has outlined its enforcement priorities for 2025, identifying key areas where it will focus its resources and expertise to tackle unlawful conduct that threatens consumers, businesses, and the broader economy.
This comes as regulators had also addressed the need for a concerted effort to address emerging risks and challenges facing the Australian and New Zealand financial sectors in 2025 at FINSIA's Regulators 2024.
ASIC Deputy Chair Sarah Court emphasised that the 2025 priorities reflect the evolving risks Australian consumers face, particularly in the wake of rising cost-of-living pressures.
“Consumers are facing increasing risks, and our 2025 enforcement priorities are all about protecting them from financial harm,” said Ms Court.
“We will target those who seek to exploit vulnerable individuals, particularly in the areas of debt management, superannuation, and financial products that are designed to bypass consumer protections.”
Key Enforcement Areas for 2025
ASIC’s 2025 enforcement priorities will focus on a range of high-risk areas where consumers are most at risk. These include:
- Misconduct Exploiting Superannuation Savings
ASIC will continue to target schemes that misuse superannuation funds, especially focusing on fraudulent or misleading property investment schemes that promise inflated returns at the expense of consumers’ retirement savings. - Unlawful Debt Management and Collection Practices
The regulator will take strong action against businesses that engage in unlawful debt collection practices or exploit vulnerable individuals seeking assistance with debt management. - Insurer Failures to Deal Fairly with Customers
ASIC will scrutinise insurers to ensure they treat their customers fairly and fulfill their obligations in good faith, especially in claims handling. - Strengthening Insider Trading Prosecutions
To maintain the integrity of Australia’s financial markets, ASIC has established a new team dedicated to investigating and prosecuting insider trading. This is part of a broader effort to ensure that the Australian market remains fair and transparent. - Business Models Designed to Avoid Consumer Credit Protections
ASIC will target business models designed to sidestep consumer protections in the credit sector, ensuring that companies meet their obligations to customers.
Recent trends and enforcement successes
In 2024, ASIC ramped up its enforcement activities, launching 25% more investigations compared to the previous year and increasing new civil proceedings by 23%. The agency’s enforcement actions spanned a broad range of areas, from greenwashing and cryptocurrency fraud to high-cost credit and insider trading.
Ms Court noted that while the number of investigations is a key indicator, the real impact of ASIC’s efforts is measured by the resulting compliance improvements and the deterrent effect of its enforcement actions.
“Numbers alone don’t capture the full picture,” she said.
“What’s important is the ongoing shift in industry behavior, particularly in sectors where consumers and investors are vulnerable.”
Enduring priorities: Tackling systemic risks
ASIC's enforcement priorities are responsive to emerging risks, but they also reflect a long-standing commitment to protecting consumers and maintaining market integrity. The agency will continue to prioritise:
- Misconduct Damaging Market Integrity: This includes actions such as insider trading, market manipulation, and breaches of continuous disclosure obligations.
- Protection of First Nations People: ASIC will remain vigilant in addressing misconduct that disproportionately affects Indigenous communities.
- Financially Vulnerable Consumers: ASIC will continue to focus on misconduct that impacts those in financial distress, including predatory lending and exploitative financial products.
- Systemic Failures by Large Financial Institutions: ASIC will target large institutions that fail to comply with regulations, resulting in widespread consumer harm.
- Emerging Conduct Risks: As new risks arise within the financial system, ASIC will remain flexible and responsive in its approach to enforcement.
- Corporate Governance Failures: ASIC will continue to focus on failures in governance and directors' duties, holding corporate leaders accountable for their actions.
Looking ahead
ASIC’s 2025 enforcement priorities reflect the ongoing challenge of adapting to a rapidly changing financial environment. With the cost of living increasing and consumers facing greater financial pressures, ASIC’s focus will remain on safeguarding Australians from financial harm and ensuring that businesses operate with integrity.
“Our role is to act as a strong and independent regulator, protecting consumers, maintaining market integrity, and holding businesses accountable for unlawful conduct,” Ms Court concluded.
“We will continue to evolve our enforcement strategies to respond to emerging risks, with a clear focus on protecting the financial well-being of all Australians.”
As the agency continues its enforcement work in 2025, it is clear that ASIC is committed to tackling the issues that matter most to Australian consumers, businesses, and the economy, ensuring a fair and transparent financial system for all.
