15 November 2023 - ASIC targets misconduct in superannuation sector

ASIC will look to take strong, targeted enforcement action in the coming months and into 2024, as part of its focus on member outcomes in the superannuation sector.

The enforcement focus comes after ASIC’s enforcement and regulatory update highlighted ASIC’s work to protect consumers, including calling on banks to ensure better consumer outcomes and civil penalty action against Westpac Banking Corporation after alleged failures to address financial hardship notices.