Unpacking the regulatory toolkit I: Enforcement

by AFIA

Ashurst's market-leading regulatory experts are delivering a six-part webinar series over 2022 to help members better understand Australia's conduct regulator, ASIC. The series explores the regulator's toolkit in the current environment, including enforcement and supervision. It also gives focus to the emerging themes and key regulatory reforms in the financial services industry, like the regulation of digital assets and the incoming Financial Accountability Regime.

Register to get a glimpse into the regulatory mindset and understand topical issues to best prepare and position your business in an ever dynamic landscape.

Unpacking the regulatory toolkit I: Enforcement

In the second instalment, 'Unpacking the regulatory toolkit I: Enforcement', Liz Hristoforidis, Director, Ashurst Risk Advisory, will be joined by Narelle Smythe, Partner, Finance Regulatory, and Chris Baker, Head of Managed Services, Risk Advisory, to deep dive into ASIC's enforcement approach, how it has evolved over time, and the new trends we see emerging with express investigations and a yet-to-be-tested immunity policy. Together, our panel will:

• give us a refresher on ASIC's regulatory tools, and how enforcement fits in the toolkit to deter misconduct
• explore ASIC's approach to enforcement, and the key factors that influence decisions to take action
• highlight the evolution of the regulator's approach since the Banking Royal Commission—from negotiated outcomes to 'Why not litigate?' and back
• discuss how you can engage openly and transparently with the regulator to avoid or minimise costly financial penalties and reputational damage in the context of where ASIC is likely to focus on taking action next.

The panel delve into how improved engagement with the conduct regulator can help institutions face into investigations and enforcement action quickly and effectively when things have gone wrong, with a focus on embedding more sustainable frameworks, systems, processes and practices in the aftermath.

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