ASIC has published its Corporate Plan for 2020-24 as well as its work to address the COVID-19 pandemic and its revised timetable of ongoing work.

Its short term priorities include protecting consumers from harm at a time of heightened vulnerability and supporting Australian businesses to respond to the effects of the COVID-19 pandemic.

Its longer-term focus areas include:

  • deterring poor behaviour and misconduct through its ‘Why not litigate?’ discipline and driving cultural change using all of its regulatory tools;
  • addressing consumer harm as a result of elevated debt levels and hardship, with a particular focus on predatory lending;
  • reducing poor product design and restricting mis-selling;
  • reducing misconduct by company directors and professional service providers; and
  • delivering as a conduct regulator for superannuation.

ASIC’s revised timetable of ongoing work indicates that it is planning to publish by the end of September a new regulatory guide on product design and distribution obligations as well as a report on industry performance and regulation of buy now pay later services.

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.

Author: David Jacobson

Principal, Bright Corporate Law

Email: djacobson@brightlaw.com.au

About David Jacobson

The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.

The post ASIC Corporate Plan and revised timetable of ongoing work appeared first on Bright Law.