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Taskforce report

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.