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ASIC enforcement priorities for 2026: What's changed?
The Australian Securities and Investments Commission (ASIC) oversees and enforces Australia’s corporate, financial services and consumer credit laws. As the federal regulator, it supports the integrity and resilience of Australia’s corporate landscape. Each year, ASIC shares its enforcement priorities; high-risk or high-impact issues it has decided to focus on that year. The goal is to address emerging risks, protect consumers and ensure that markets operate fairly and transparently.
These enforcement priorities send a clear signal to businesses where they should take extra care with their compliance. The comparison below demonstrates how ASIC’s priorities have shifted from 2025 to 2026.
| 2025 priorities | 2026 priorities |
| - | Continuing our work to hold those responsible to account for the collapse of the Shield and First Guardian Master Funds |
| - | Financial reporting misconduct including failure to lodge financial reports |
| Misconduct exploiting superannuation savings | Misleading pricing practices impacting cost of living for Australians |
| Business models designed to avoid consumer credit protections | Poor private credit practices |
| Debt management and collection misconduct | Misconduct exploiting consumers facing financial difficulty including predatory credit practices |
| Failures by insurers to deal fairly and in good faith with customers | Claims and complaint handling failures by insurers
|
Misconduct impacting small businesses and their creditors
| Unlawful practices seeking to evade small business creditors |
| Member services failures in the superannuation sector | Holding super trustees to account for member services failures |
| Strengthening investigation and prosecution of insider trading | Strengthening investigation and prosecution of insider trading conduct |
| Auditor misconduct | Auditor misconduct |
| Used car finance sold to vulnerable consumers by finance providers | - |
| Unscrupulous property investment schemes | - |
| Licensee failures to have adequate cyber-security protections | - |
| Greenwashing and misleading conduct involving ESG claims | - |
While there are clear themes present in ASIC's 2026 priorities, certain 'enduring priorities' remain unchanged. These include:
- Market integrity breaches.
- Systemic compliance failures by major institutions.
- Emerging financial system risks.
- Governance and director duty lapses.
- Misconduct causing significant consumer harm (and impacting First Nations people and vulnerable consumers.)
What can we learn from ASIC’s evolving priorities?
Cost-of-living pressures
The introduction of misleading pricing practices as a top priority in 2026 reflects ASIC’s response to broader economic conditions and consumer vulnerability. Rising living costs mean regulators are keen to prevent deceptive pricing that erodes consumer trust.
Focus on financial stability and reporting integrity
Adding financial reporting misconduct and continuing scrutiny on auditor misconduct suggests ASIC is reinforcing corporate accountability and transparency. This aligns with global trends emphasising accurate disclosures to maintain market confidence.
Consumer protection in credit markets
In 2025, ASIC targeted business models that avoided credit protections. In 2026, that focus will shift to poor private credit practices and predatory lending. This change highlights ASIC’s growing concern about credit stress and exploitation of financially vulnerable consumers.
Insurance and superannuation accountability
Continued emphasis on claims handling failures and super trustee accountability indicates ASIC’s commitment to sectors that directly impact everyday Australians’ financial security.
Dropped priorities
Several priorities from 2025 are absent from the 2026 list. While this includes greenwashing and cybersecurity failures, this is not a reason to slacken compliance in these areas. Rather, it may indicate these issues have matured into ongoing compliance expectations rather than acute enforcement targets.
ASIC Deputy Chair, Sarah Court, says that ASIC remains 'alert' to the risk of deceptive ESG claims. She also affirms that cyber security is still a pressing issue in Australia. After a series of high-profile enforcement actions, ASIC now expects robust cyber resilience to be standard practice.
Key takeaways: Enforcement in action
ASIC has notably increased its enforcement operations, resulting in twice as many investigations and legal proceedings. Organisations should therefore anticipate more rapid escalation of regulatory issues and a higher frequency of litigation. Additionally, there is a pronounced shift toward outcome-focused compliance. Regulators are prioritising the experiences of consumers and members over mere review of documented compliance systems.
Recent enforcement measures have led to unprecedented fines, with major institutions incurring penalties as high as $240m. There is also heightened focus on criminal prosecutions, reflected in longer sentences for serious offences. The collaborative efforts between ASIC and APRA provide an additional tier of regulatory scrutiny, increasing the risks associated with non-compliance.
Next steps for regulated entities
In light of these heightened expectations, there are a few steps affected organisations should take. These include:
- Proactively assess risk management frameworks.
- Implement regular reviews to align with evolving regulatory standards.
- Prioritise continuous improvement in operational processes.
- Foster transparency across all touchpoints.
- Empower staff to challenge practices constructively.
- Integrate real-time data analytics to improve oversight. This helps boards and management teams to promptly identify emerging risks and trends.
Taking these steps will prove crucial to mitigating exposure.
What good looks like:
Governance: Boards are required to maintain strong oversight, employing clear metrics that are directly connected to consumer outcomes.
Pricing and disclosures: Organisations must provide accurate and transparent communications, reinforced by regular quality assurance processes.
Complaints and claims: Rapid issue resolution is essential, with a focus on root cause analysis, remediation, and maintaining robust internal dispute resolution procedures.
Financial reporting: Timely and reliable lodgement is necessary, supported by comprehensive internal controls.
Culture: Cultivate a positive workplace culture. Implement effective speak-up mechanisms and thorough training, with accountability integrated into performance management systems.
How RSM can help
RSM can help you build confidence in your compliance frameworks.
We can help you:
Assess your risk exposure and strengthen governance and internal controls
Our risk advisory services specialists can work with you to identify potential vulnerabilities related to ASIC’s 2026 priorities. We will help you ensure you have fit for purpose, processes and controls in place to address your key risks.
Ensure reporting excellence
Our audit and assurance specialists can help you meet your financial reporting obligations with accuracy and confidence.
Get in touch to strengthen internal controls, close compliance gaps and streamline processes with RSM.
