On 25 November 2015, the Senate referred the matter of inconsistencies and inadequacies of current criminal, civil and administrative penalties for corporate and financial misconduct or white-collar crime to the Economics References Committee for inquiry and report. The Senate Committee provided its report on 23 March 2017.
The ASIC Enforcement Review Taskforce provided its report to Government in December 2017. The Taskforce report included recommendations that overlapped with recommendations in the Senate Committee’s report.
On that basis, the Government decided to provide its response to the Senate Committee’s report alongside its response to the ASIC Enforcement Review Taskforce Report in April 2018.
For further information please refer to the attached copy of the Australian Government response to the Senate Economics References Committee Report on white-collar crime. The Government response to the ASIC Enforcement Review Taskforce Report is available on the Review website.