ASIC has affirmed its commitment to improving Australian market integrity in its 2024-25 corporate plan, naming consistency and transparency across markets and products as a strategic priority.
In the plan, Joseph Longo, ASIC chair, discussed what ASIC is already doing in this space. “ASIC is one of Australia’s most active law enforcement agencies. We are in court nearly every day of the year to hold those who breach the law to account and to deter misconduct. Last year we significantly increased our number of new investigations and many of those matters will result in important compliance and enforcement outcomes in the year ahead,” he commented.
Four other strategic priorities are listed in the plan, namely improving consumer outcomes, addressing financial system climate change risk, providing better retirement outcomes and member services and advancing digital and data resilience and safety.
A number of factors have led to these areas being prioritised, ASIC said, including an uncertain economic environment, climate change risk, an ageing population and technological change – both to the advantage of the financial system and as a threat.
Longo added: “While the overarching themes of our existing strategic priorities remain consistent, our updated corporate plan demonstrates how we are evolving and adapting to the changing needs of our operating environment.
“Our latest corporate plan and strategic priorities represent the next step of ASIC’s transformation journey to being a modern, confident and ambitious regulator.”
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