ASIC protects consumers by removing high-risk financial sector participants

ASIC has reported that it delivered 150 administrative enforcement outcomes in the 2025 to 2026 financial year targeting misconduct across the financial, credit and corporate sectors. Between 1 July 2025 and 30 June 2026, ASIC removed or restricted 87 individuals and businesses from providing financial services, removed or restricted 27 individuals and businesses from providing credit services, and disqualified 36 individuals from managing corporations. The financial services figure represents the highest level of removals and restrictions in the past five years, and director disqualifications rose sharply compared with the prior financial year.

ASIC reported that 61 per cent of financial services outcomes and 89 per cent of credit related outcomes resulted in permanent banning orders or licence cancellations, including 77 permanent bannings and cancellations covering 31 individuals and 46 organisations. ASIC Chair Sarah Court said administrative tools such as licence cancellations and director disqualifications allow the regulator to act quickly and decisively, often more swiftly than court action, to remove unsuitable operators from the market. Examples cited included a permanent ban of a former financial adviser for misappropriating client funds and providing false documents, and the maximum five year disqualification of a former property development director.

ASIC also reported that it banned 15 advisers linked to the Shield Master Fund or the First Guardian Master Fund during the year and took further action against associated licensees. This is a media release reporting enforcement statistics and individual banning or disqualification outcomes achieved through ASIC's own administrative powers, rather than a court judgment, and reflects decisions already made rather than pending matters.