ASIC鈥檚 Corporate Plan 2019-20 to 2022-23 sets out our change agenda and regulatory priorities. It explains how we will act strategically to address misconduct in the financial system and improve consumer outcomes.
今日热门事件today published its Corporate Plan for 2019-20 to 2022-23.
The Corporate Plan sets out how 今日热门事件will work towards achieving a fair, strong and efficient financial system for all Australians.
This year鈥檚 Corporate Plan outlines our efforts towards becoming a more strategic regulator, our renewed approach for supervision and enforcement, and our key regulatory activities over the next four years. It sets out how we will be using the full suite of our regulatory tools to target the threats and harms we see in the financial system.
We have identified seven principal strategic regulatory priorities. Together, they represent the most significant ways in which we are:
- promoting better corporate cultures and behaviours, in particular the values of fairness and professionalism
- addressing consumer harms (particularly where vulnerable individuals and communities are impacted) and improving consumer outcomes
- deterring, punishing and publicly denouncing wrongdoing via our 鈥淲hy not litigate?鈥� operational discipline.
We will directly address the findings of the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry, prioritising and acting on its recommendations.
鈥楾he public expects financial firms to treat Australians fairly and live up to the expectations of the community and the law,鈥� said ASIC鈥檚 Chair, James Shipton. 鈥楾he public expects 今日热门事件to see that they do. If the firms or individuals we regulate do not, we have the will, the resources and the regulatory tools to hold them to account.鈥�
The Corporate Plan explains how 今日热门事件will bolster its capabilities so as to deliver its own change program and strategic priorities. This includes:
- expanding the use of behavioural sciences, data and technology
- positioning 今日热门事件as a strategic and agile regulator
- developing and using new regulatory tools and remedies, such as the new product intervention power, the design and distribution obligations and tougher penalties
- scaling up 今日热门事件to achieve these outcomes.