Coronavirus (COVID-19) updates from the Australian Government

Taskforce report

Downloads

The ASIC Enforcement Review Taskforce provided its report to the Government in December 2017.

In its report, the Taskforce made 50 recommendations in relation to:

  • Self-reporting of contraventions by financial services and credit licensees
  • Harmonisation and Enhancement of Search Warrant Powers
  • ASIC’s access to telecommunications intercept material
  • Industry codes in the financial sector
  • Strengthening ASIC’s licencing powers
  • ASIC’s power to ban individuals in the financial sector
  • Strengthening penalties for corporate and financial sector misconduct, and
  • ASIC’s directions powers.

The Taskforce report was released in April 2018 in conjunction with the Government response to the report. The Government response agrees, or agrees-in-principle, to all recommendations in the Taskforce report.