Australia: ASIC Releases Update on Recent Enforcement Action in Australia and Guidance for Target Market Determinations


1.         ASIC enforcement and regulatory update reveals areas of focus

ASIC has published their enforcement and regulatory update outlining the key actions taken between 1 July and 30 September 2022 (REP 753).

The report highlights the following action taken by ASIC:

REP 753 follows ASICs announcement of their strategic priorities earlier this year showing their continued focus on DDO and consumer protection with an emphasis on superannuation products, managed investments and financial advice.  

2.         ASIC publishes target market determination (TMD) guidance

ASIC has published a report (REP 754) regarding small amount credit lenders compliance with DDOs.

Although the report relates to small amount credit lenders, it also specifies more broadly the recent action that ASIC has taken in relation to TMDs and provides guidance on how TMDs can be amended to meet ASIC’s expectations.

ASIC’s key areas of concern include:

Financial service providers should review their TMDs to address ASIC’s areas of concern in order to avoid disruptive enforcement action.

Anabelle Weinberg also contributed to this article.


Copyright 2025 K & L Gates
National Law Review, Volume XII, Number 356