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Screenshot of a breaking news alert e-mail from Q2 2017
ASIC has today released its latest report on market integrity for the period 1 July 2016 to 31 December 2016.
The report covers ASIC’s work helping to ensure Australia’s financial markets operate fairly and efficiently.
Key outcomes during the six-month period include:
- 2 criminal actions
- 6 civil outcomes/ 2 enforceable undertakings
- bannings, disqualifications and licence conditions
- $1.48m dollar value of infringement notices
- 2 people banned from providing financial services
The report looks at ASIC’s reviews of market cleanliness, handling of confidential information and conflicts of interest, and the ASX equity market outage. It also looks at some of our key activities over the last six months in areas such as insider trading (Hochtief AG) and the management of wholesale spot foreign exchange businesses (CBA and NAB).
ASIC Commissioner Cathie Armour said:
ASIC is focused on protecting the integrity of Australia’s financial markets, so that companies and investors can participate with confidence. We achieve this by setting standards and educating stakeholders, pursuing behavioural change and taking enforcement action to deter market misconduct.
Ongoing priorities and areas of focus for ASIC’s market integrity work in 2017 include:
- firm culture and conduct risk
- confidential information and conflicts of interest
- technology risk and cyber resilience, and
- market innovation.