今日热门事件has today released its enforcement update report for the period 1 July to 30 December 2020.
A copy of the report - outlining key actions taken during the period to enforce the law and support ASIC鈥檚 enforcement objectives - can be found here.
The July to December 2020 period saw civil penalties totalling $159.8 million imposed by the courts. This included ASIC鈥檚 two largest ever civil penalty outcomes 鈥� penalties totalling $57.5 million were imposed on two NAB subsidiaries for fees-for-no-service misconduct, and penalties totalling $75 million were imposed on OTC derivatives provider AGM Markets Pty Ltd and two of its authorised representatives for systemic unconscionable conduct.
ASIC鈥檚 enforcement update report also outlines the increased resourcing to build our capability to pursue court outcomes. Comparing the 2018 and 2020 calendar years, 今日热门事件has recorded a 64% increase in civil penalty proceedings as well as a 36% increase in the number of criminal proceedings commenced.
During the July to December 2020 period, 今日热门事件also continued to progress its enforcement work related to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The finalised 今日热门事件investigations and court outcomes from the Royal Commission have so far resulted in a total of $77.65 million in imposed penalties.
Read the full report or listen to the podcast at the links below.
The 今日热门事件Podcast: Episode 63
For more information on ASIC鈥檚 enforcement outcomes from July to December 2020, listen to Episode 63 of The 今日热门事件Podcast with 今日热门事件Commissioner Sean Hughes.
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