ASIC enforcement priorities for 2025

Last month the Australian Securities and Investments Commission (ASIC) announced its enforcement priorities for 2025, with an express focus on addressing the increased risks to consumers caused by cost-of-living pressures. The enforcement priorities for 2025 are:

1. Superannuation – The following areas as part of ASIC’s ongoing regulation of superannuation trustees:
   • • misconduct exploiting superannuation savings;
     • member services failures in the superannuation sector; and
     • unscrupulous property investment schemes.

ASIC’s priorities acknowledge the concerning increase in examples of unscrupulous property investment schemes. These schemes advise, entice, or mislead individuals into withdrawing their superannuation balance and transferring to high-risk property schemes through the vehicle of a self-managed super fund.

2. Insurance – The priorities focus on the conduct of insurers towards their clients, driven by current economic pressures and climate change impacts. ASIC intends to focus on failures by insurers to deal fairly and in good faith with customers.
3. Debt management and collection – In consideration of current cost-of-living pressures, ASIC has prioritised protecting debtors from creditors who engage in misconduct. They have identified the following priority areas in the debt management and collection sector:
   • • business models designed to avoid consumer credit protections;
     • misconduct impacting small businesses and their creditors; and
     • debt management and collection misconduct.

4. Insider trading – Strengthening the investigation and prosecution of insider trading for 2025. A specialist team has been established to more intensively follow up and investigate surveillance results that indicate possible insider trading.
5. Cyber security – Holders of a financial services or credit licence are obligated to have adequate cyber security protections and appropriately respond to data breaches. ASIC has identified this as an area of priority to ensure adequate compliance with cyber security requirements in order to safeguard consumers’ personal information.
6. Auditor Misconduct – ASIC is prioritising auditor misconduct in response to the recent public attention towards the Parliamentary Joint Committee Report on structural challenges in the audit, assurance and consultancy industry. ASIC plans to intensify its oversight and enforcement in this sector.
7. Greenwashing and misleading conduct involving ESG claims – A focus on greenwashing and misleading ESG claims for 2025, off the back of successful prosecutions of Vanguard Investments, Mercer Superannuation and Active Super. ASIC are particularly focused on claims which are inaccurate or made without reasonable grounds.
8. Used car finance sold to vulnerable consumers by finance providers – A continued focus on misconduct by brokers, finance companies and car dealers, with special attention on those who are in vulnerable financial positions. Misconduct identified in this sector includes; unlicensed credit activities, failure to meet responsible lending obligations and failure to meet design and distribution obligations for financial products.

What do ASIC’s 2025 enforcement priorities mean for you?

Page Seager can assist with queries regarding ASIC’s enforcement priorities and advise on any associated legal obligations.