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Home Forums Australian Financial Services Licensing (AFSL) Forum New ASIC crackdown on gatekeepers across the financial system

This topic contains 1 reply, has 2 voices, and was last updated by  Megan Jaksa 9 years, 1 month ago.

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  • #2368 Reply

    News article of 31/05/2011 in AFR indicates new head of ASIC, Greg Medcraft, wants more proactive approach by ASIC across all financial professionals. Does anyone know of increased surveillance visits in the field of insurance broking in recent months? ASIC have been criticised for not imposing enough fines and/or enforceable undertakings too. I am interested to know of any recent insurance broking cases of these too that can be shared.
    Look forward to feedback.

    Andrew Mc Innes

    #3045 Reply

    Megan Jaksa

    Hi Andrew,


    We are not aware of any increased activity by ASIC in the insurance broking space. ASIC has not published any enforceable undertakings in this space in 2011 and there have not been any recent relevant publications relating to insurance broking. Anecdotally, we are unaware of any increase in surveillance activity above ASIC’s usual activities.


    We will table this question at our next informal gathering of compliance managers held here in Melbourne. If we learn anything of interest we will get back to you.


    Author: Tim Nethercote

    Co-contributor: Megan Jaksa


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Reply To: New ASIC crackdown on gatekeepers across the financial system

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