Inside ASIC

The podcast Inside ASIC this week puts scammers squarely in ASIC’s cross hairs.   As artificial intelligence becomes more prolific in modern society, scammers are using the tool to produce highly convincing scams that leave even the experts second-guessing. The Commission’s taken down more than 10,000 investment scam websites and online advertisements and we are continuing to do a big piece of work to ensure banks are protecting consumers.   In this episode of Inside ASIC we caught up with:   Senior Manager of Enforcement, Sarah Bower  Consumer advocate Steph Tonkin  Senior lawyer, scams, Sam Riggall ⁠24-280MR ASIC sues HSBC Australia alleging failures to adequately protect customers from scams | ASIC⁠ 

In our latest podcast episode Inside ASIC we look at some of the big issues with insurance after recent devastating natural disasters in Australia.  We dive into a report ASIC’s just released about what insurers need to do to lift their game and look at why the loss of a home or property is just the start of what can be a long and stressful battle for Australians to rebuild disrupted lives.  In this episode of Inside ASIC we caught up with:  ASIC Commissioner Alan Kirkland  Julia Davis Senior Policy & Communications Officer at the Financial Rights Legal Centre  The content and information is not intended to be financial advice and that consumers should seek independent financial advice on any matters discussed.

What is our corporate regulator doing specifically to drive positive outcomes for Aboriginal and Torres Strait Islander peoples?  In this episode of Inside ASIC we’re going to be looking at some of the work being driven by the specialist Indigenous Outreach Program team within ASIC. It’s not work that gets a lot of attention in the national media - but it’s a critical piece of what the Commission does when serious financial harm is at stake.  Danille Abbott - who’s a senior manager of the Indigenous Outreach Program.    Jessica Naimo is a senior lawyer at ASIC Senior Financial counsellor and Boandik woman Bettina Cooper who helped build the First Nations debt helpline, called Mob Strong Debt Help.  ⁠24-084MR ASIC orders end to Centrepay credit arrangements in Urban Rampage stores | ASIC⁠  Further information:  ⁠ASIC’s Indigenous Outreach Program | ASIC⁠   Moneysmart: ⁠Indigenous - Moneysmart.gov.au⁠   The podcast and information contained is not intended to be financial advice and consumers should seek independent financial advice on any matters discussed.

There are a host of companies making claims about their environmental credentials.  For ASIC this has been a serious focus as many financial products like super funds have made green claims about how they invest… but simply can’t stack them up.   Vanguard Investments Australia was ordered to pay a record $12.9 million penalty for making misleading claims, Mercer Super was ordered to pay $11.3 million, and Active Super copped a penalty of $10.5 million for greenwashing misconduct.  This episode features: Marita Hogan - who’s the Senior Executive Leader, Enforcement and Compliance at ASIC   Andrei Bacu is an ASIC Analyst with the superannuation team  Professor Jeremy Moss from the University of New South Wales  ASIC Media Release: ⁠⁠24-061MR ASIC wins first greenwashing civil penalty action against Vanguard | ASIC⁠⁠  The podcast and information contained is not intended to be financial advice and consumers should seek independent financial advice on any matters discussed.

We might just be witnessing a really fundamental change in Australia’s financial markets to the the rise of private markets.   Through superannuation investments, many Australians have indirect exposure to private assets. Private markets operate differently than public markets and are inherently less transparent.   In this episode of Inside ASIC we are all about understanding private versus public markets. Why it matters - and what’s the role of our corporate regulator when these deals are being done behind closed doors, with:  Senior Executive Leader Market Conduct Andrew Templer   Senior Executive Leader Strategic Projects Jane Eccleston    Carole Comerton-Forde - Professor of Finance at Melbourne University 

Amid tales of grieving families and people with disabilities left waiting for payments from their superannuation fund, ASIC turns a spotlight the sector.  In this episode of Inside ASIC we caught up with:  Pippa Lane, Acting Senior Executive Leader - Superannuation and Life Insurance at ASIC  Xavier O’Halloran, the CEO of Super Consumers Australia   The content and information is not intended to be financial advice and that consumers should seek independent financial advice on any matters discussed.

Hear more about ASIC's work on everything from beating increasingly sophisticated scams, to cracking down on greenwashing and holding super funds to account. In Season 2 of Inside ASIC we’re going to keep pulling back the curtain on the forensic work happening at the Commission. Over 6 episodes we’ll hear from key players inside ASIC on everything from protecting consumers from increasingly sophisticated scams… to cracking down on greenwashing - and holding super funds to account.

In this episode we discuss crypto-assets for first time investors with Hema Raman, Crypto-Asset Coordinator at ASIC.  If you're thinking about investing in crypto-assets, hear from ASIC on what to think about and look out for before you invest.     

In this episode, we discuss the work of ASIC’s Markets Enforcement team. We are joined by ASIC Senior Executive Leader, Molly Choucair, to discuss recent Court action against AGM Markets and Antares Energy as well as ASIC’s Immunity Policy.

In this episode, we discuss ASIC’s Enforcement Update for July to December 2020. We are joined by ASIC Commissioner Sean Hughes who takes us through ASIC’s response to the COVID-19 pandemic and its major enforcement outcomes in 2020.  For more information, download the enforcement report and read the media release. 

In this episode, we discuss the work of ASIC’s Corporations and Corporate Governance Enforcement team. We explore ASIC’s cases against former Kleenmaid director Mr Andrew Eric Young, former Executive Chairman and Chief Executive Officer of Healthzone Limited, Mr Peter David Roach and former liquidator David Leigh.

Investing in land and property is certainly not a revolutionary idea. Australians have been investing in bricks, mortar and land for decades, but unfortunately not all property investment schemes are the same. 'Land banking' can produce returns for investors but comes with significant red flags. It is often unregulated, leaving investors without protection if things go wrong. In this episode, we explore some of the land banking schemes shut down by ASIC.

In this episode we discuss the findings and recommendations from ASIC’s thematic review of total and permanent disability (TPD) insurance in Australia including what ASIC expects insurers and superannuation trustees to do to address the poor consumer outcomes. We are joined by the Senior Executive Leader of ASIC's Insurers team, Emma Curtis, and the Senior Executive Leader of the Superannuation team, Jane Eccleston.  For more information about the review, download ASIC Report 633 Holes in the safety net: a review of TPD insurance claims and read ASIC media release 19-281MR ASIC calls on insurers and trustees to take action to improve consumer outcomes from total and permanent disability insurance.

In this episode, we discuss the first report from ASIC’s Corporate Governance Taskforce: Director and officer oversight on non-financial risk. We are joined by Suneeta Sidhu, the team leader of the Taskforce.

In this episode, we discuss ASIC's review of how car insurance claims are investigated where fraud is suspected. We are joined by the Senior Executive Leader of ASIC's Insurers team, Emma Curtis, and the Director of Casework at the Financial Rights Legal Centre, Alexandra Kelly. For more information about the review, download ASIC Report 621 – Roadblocks and roundabouts: A review of car insurance claim investigations and read ASIC media release 19-172MR – ASIC’s review finds car insurance investigations treat consumers unfairly.

In this episode, we discuss ASIC’s case against Bradley Silver, a former director of a property development company who defrauded his clients of $4.7 million. Read ASIC media release 19-243MR - Gold Coast director and property developer sentenced to eight years' imprisonment - for more information.

18 August 2019 In this episode with ASIC Deputy Chair Daniel Crennan QC, we explore ASIC’s Enforcement Update (January to June 2019), ASIC’s Office of Enforcement and work to strengthen ASIC’s enforcement effectiveness by accelerating court-based enforcement matters.

In this episode with the Chair and CEO of the Ontario Securities Commission, Maureen Jensen and ASIC Executive Director (Markets) Greg Yanco explore digitisation, changing consumer expectations, disruptive business models, innovation and the future of financial services.

In this episode with Peter Yates, Chairman of the Shared Value Project and Deputy Chairman of AIA Australia, ASIC’s Laura Higgins (Senior Executive Leader, Financial Capability) explores how the concept of shared value challenges companies to realign the interest of business and society by redefining their purpose so that generating economic value also produces value for society.

In this episode with the Assistant Managing Director (Capital Markets) of the Monetary Authority of Singapore, Lee Boon Ngiap, we explore how regulators deploy their tools to detect, combat and deter misconduct in the financial system.