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ASIC enforcers dish out warning to banks

ASIC enforcers dish out warning to banks

by Starling Insights

Starling Insights Editorial Board

Sep 24, 2021

Observations

The Australian Securities & Investments Commission's (ASIC) new chief of enforcement, Sarah Court, said that she is shocked at the obstructive and delaying tactics employed by banks.

Court, the former commissioner of the Australian Competition and Consumer Commission, replaced Daniel Crennan as ASIC’s head of enforcement, said she was keen to speed up investigations. “It shouldn’t take us years to get from A to B; from a breach report or a consumer complaint through to litigation," she explained.  She is looking to take fast and deterrent actions that send a message to the industry.

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