News & Analysis as of

Enforcement Actions ASIC

Jones Day

Australian Corporate Regulators Continue to Target Environmental Claims and Greenwashing in Enforcement Activities

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ESG-related enforcement remains a top priority and focus for Australia's corporate regulators. Since our last update, there has been a steady stream of enforcement activity aimed at climate-related representations and...more

K&L Gates LLP

April 2024 ESG Policy Update—Australia

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Australian Update - Australian Competition and Consumer Commission Enforcement Priorities for 2024-2025 - The Australian Competition and Consumer Commission (ACCC) has announced its enforcement and compliance priorities for...more

A&O Shearman

Regulators and reforms: how Australia tackled white collar crime in 2023 and what to expect in 2024

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Regulators and enforcement authorities in Australia intensified their efforts to curb white-collar crime in 2023. They targeted fraud, money laundering, tax evasion, cybercrime, and corruption across multiple industries,...more

K&L Gates LLP

December 2023 ESG Policy Update - Australia

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Australian Update - ASIC to Focus on Net Zero Statements and Targets - On 21-22 November 2023, the Australian Securities & Investments Commission (ASIC) hosted the ASIC Annual Forum, outlining: The progress and outcomes ASIC...more

Cadwalader, Wickersham & Taft LLP

Australia Regulator Initiates Greenwashing Suit Against Active Super Over ESG Investing Claims

On August 10, 2023, the Australian Securities and Investments Commission (ASIC) announced its third civil penalty proceeding this year for greenwashing against LGSS Pty Limited, which is trustee for superannuation fund Local...more

Latham & Watkins LLP

Australian Competition and Consumer Commission Adopts Tougher Stance on Greenwashing

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The ACCC sets out best marketing practices and companies’ obligations under the Australian Consumer Law, including strict penalties that may follow. In July 2023, the Australian Competition and Consumer Commission (ACCC)...more

Cadwalader, Wickersham & Taft LLP

Australia’s Securities and Consumer Protection Regulators Pursue Alleged Greenwashing

On February 28, 2023, Australia’s securities regulator, the Australian Securities and Investments Commission (ASIC), announced that it had commenced “civil penalty proceedings” in federal court against Mercer Superannuation...more

Cadwalader, Wickersham & Taft LLP

Australian Securities and Investments Commission Levies Another Greenwashing Fine

The Australian Securities and Investments Commission (ASIC) appears to be making up for lost time as it imposed another greenwashing-related penalty, this time against Black Mountain Energy, an upstream oil and gas company,...more

A&O Shearman

Managing cyber security risks: key learnings from Australia’s first test case

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For the first time in Australia, a court has held in an action brought by Australia’s financial services regulator, ASIC, that the failure by a company to have adequate risk management systems in place to manage cybersecurity...more

Jones Day

Australian Financial Services Regulatory Update - June 2022

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This edition of the Update covers:  Recent legal and regulatory developments, including the release of regulatory guidance on crypto asset-related investment products, the imposition of additional licence conditions on the...more

Jones Day

Australian Financial Services Regulatory Update - December 2021

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This edition of the Update covers: KEY LEGAL AND REGULATORY DEVELOPMENTS Regulatory Priorities ASIC and APRA Release Their Corporate Plans for 2021-25 On 26 August 2021, the Australian Securities & Investments Commission...more

Jones Day

Australian Financial Services Regulatory Update - July 2021

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This edition of the Update covers: Key Legal and Regulatory Developments Financial Markets The Australian Regulators Reiterate Their Expectations for a Smooth Transition Away From LIBOR On 4 June 2021, ASIC, APRA, and the RBA...more

A&O Shearman

Australian corporate regulator acts decisively to disrupt misconduct

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ASIC’s recent Enforcement Update demonstrates that it is in a strong position to identify and disrupt misconduct across the Australian financial sector through aggressive enforcement action....more

Jones Day

Australian Financial Services Regulatory Update - February 2021

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This edition of the Update covers: 1. Recent legal and regulatory developments, including the release of APRA's policy and supervision priorities for 2021, the launch of APRA's Cyber Security Strategy 2020 – 2024,...more

Jones Day

Australian Financial Services Regulatory Update - September 2020

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This edition of the Update addresses: 1. Recent legal and regulatory developments which relate to licencing and regulatory relief, consumer protection, financial markets, anti-money laundering and capital and prudential...more

Polsinelli

ASIC Bans Former BitConnect Front-man

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John Louis Anthony Bigatton will not be providing financial services in Australia and likely not anywhere else, anytime soon. On Thursday, September 3, 2020, the Australian Securities and Investments Commission (“ASIC”)...more

K&L Gates LLP

Enforcement – A New Environment

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Welcome to the first of a regular series of K&L Gates Legal Insights addressing the new enforcement environment in financial services. The Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial...more

Katten Muchin Rosenman LLP

Bridging the Weeks - June 2019

Last week, a Canada-based social media company was sued by the Securities and Exchange Commission for purportedly conducting an unregistered securities offering to United States persons in connection with an initial coin...more

K&L Gates LLP

Regulators Tighten the Reins On Robo Advisory Firms

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In December 2018, the US Securities and Exchange Commission (SEC) settled an enforcement action with Wealthfront, one of the industry’s leading robo advisors....more

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