ASIC has announced that, in July to December 2025, it secured a record $350 million in civil penalties and $583 million in remediation, refunds, and payments to tens of thousands of customers and investors in connection with its work.
This figure includes the significant omnibus penalty settlement ASIC reached with ANZ, which saw it secure $250 million in penalties across multiple enforcement proceedings against the big 4 bank, as well as significant penalties imposed on Cbus (for benefit and claim handling failures) and RAMS Financial Group (for compliance failures relating to arranging home loans).
The regulator’s enforcement and regulatory update for H2 2025 also reveals:
- a 53% increase in new civil proceedings filed (compared to the corresponding period in 2024);
- a 38% increase in surveillances completed; and
- a 13% increase in investigations commenced,
as well as significant activity in the criminal space with convictions secured against 17 individuals and 11 new criminal proceedings commenced.
Upward trajectory to continue
This reflects ASIC’s ongoing momentum in adopting a robust approach to enforcement. ASIC's 2024–25 annual report had already revealed a 50% increase in investigations, with an almost 20% increase in new civil enforcement proceedings compared to the previous year.[1]
The regulator has signalled clearly that this trajectory is expected to continue. In announcing its enforcement priorities for 2026, Deputy Commissioner Sarah Court noted that ASIC had doubled the number of new investigations and nearly doubled the number of new matters filed in court.[2]
The incoming Chair of the Commission was unambiguous in setting expectations for the year ahead: regulated entities should expect to see a regulator which is increasingly willing to take matters to court with a view to ending misconduct in the corporate and financial services sector. ASIC will have a particular focus on misleading practices leading to higher living costs as well as other consumer-facing issues such as insurance claims handling and private credit practices. For more information on ASIC’s 2026 enforcement priorities, and some practical suggestions on how to respond, see our earlier Client Alert.
What should you do?
In this increasingly robust enforcement environment, regulated entities should review their compliance frameworks to ensure they are strong and effective, and commit to uplift where needed. They should ensure that internal escalation and breach reporting mechanisms are effective, and that governance and risk management processes are adequate.
Regulated entities should also make sure that documentation is kept up to date and evidence of regulatory compliance is recorded. They should be prepared to show ASIC that they take their regulatory obligations seriously, are aware of the regulatory risks inherent in their businesses, and have taken reasonable steps to mitigate them.
ASIC Media Release 25-231MR published 8 October 2025.
ASIC Media Release 25-273MR published 13 November 2025.
