ASIC's 2026 Enforcement Agenda: Implications for the Insurance Industry

Sarah Court, ASIC's Deputy Chair, stated that the 2026 priorities are designed to address both new and ongoing risks in the financial sector, including those affecting insurers. The regulator's agenda aims to deliver strong, visible, and active enforcement outcomes, with an increase in investigations and court proceedings.

ASIC's enforcement strategy also encompasses financial reporting, particularly as entities with unlisted assets, such as super funds and private credit funds, play a more significant role in the economy. Reliable financial information remains crucial, and ASIC plans to step up enforcement action against financial reporting misconduct in 2026.

Major investigations and enforcement actions are underway, including the collapse of the Shield and First Guardian Master Funds. ASIC has allocated substantial resources to these matters, focusing on returning available money to investors and holding those responsible accountable.

Recent enforcement actions by ASIC include seeking $240 million in penalties against ANZ, legal proceedings against Macquarie, and a 14-year sentence for a West Australian convicted of fraud. These actions underscore ASIC's commitment to maintaining market integrity and protecting consumers.

For the insurance industry, ASIC's 2026 enforcement agenda signals a heightened regulatory focus on claims handling, pricing transparency, and financial reporting. Insurers are encouraged to review their practices and ensure compliance with regulatory standards to mitigate potential enforcement actions.