ASIC reveals sharp increase in investigations

The Australian corporate regulator sharply increased its enforcement actions against the major financial institutions in the four months to February, one year on from a Royal Commission lambasting. According to ASIC's enforcement update for September 2019 to February 2020, the regulator saw a 52% increase in enforcement investigations involving the big four banks and AMP from January 2019 to January 2020. Overall, the corporate regulator's enforcement investigations increased by 10% over the last year, with 316 investigations currently underway across ASIC's full breadth of jurisdiction....