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ASIC & Enforcement

CASE INSIGHT

Australian Securities and Investments Commission v Select AFSL Pty Ltd (No 2) [2022] FCA 786


In ASIC v Select AFSL Pty Ltd (No 2) [2022] FCA 786, the Federal Court found extensive contraventions involving conflicted remuneration, misleading sales practices, vulnerable consumers and failures to provide financial services efficiently, honestly and fairly. The decision also reinforces director accountability for high-risk incentive schemes and outsourced call-centre operations.
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CASE INSIGHT

Australian Securities and Investments Commission in the matter of NSG Services Pty Ltd v NSG Services Pty Ltd [2017] FCA 345

In ASIC v NSG Services Pty Ltd [2017] FCA 345, the Federal Court found repeated failures to comply with the best-interests and appropriate-advice obligations. The judgment also highlights the significance of external compliance reports, including Assured Support reviews, where identified deficiencies are not properly implemented or remediated.
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CASE INSIGHT

Australian Securities and Investments Commission v Storm Financial Limited [2012] FCA 750

*ASIC v Storm Financial Ltd (in liq)* [2012] FCA 750 is a procedural discovery and costs decision concerning documents obtained by ASIC from Challenger. It highlights the litigation risks attached to regulator-held documents, third-party objections, confidentiality and discovery costs.
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CASE INSIGHT

Australian Securities and Investments Commission v Vocation Limited (in liq) [2019] FCA 807

*ASIC v Vocation Ltd (in liq)* [2019] FCA 807 examines continuous disclosure failures, misleading market announcements and officer duties arising from regulatory action affecting material operations. The case highlights the need for accurate board reporting, evidence-based disclosure decisions and careful verification of capital-raising materials.
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CASE INSIGHT

Australian Securities and Investments Commission v Linchpin Capital Group Ltd [2018] FCA 1104

*ASIC v Linchpin Capital Group Ltd* [2018] FCA 1104 examines serious alleged failures involving financial services licensing, managed investment schemes, related-party transactions, conflicts and scheme property. The decision highlights when urgent protective relief may be justified before final liability is determined.
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CASE INSIGHT

Australian Securities and Investments Commission v Financial Circle Pty Ltd [2018] FCA 1644

The Federal Court’s decision in *ASIC v Financial Circle Pty Ltd* [2018] FCA 1644 highlights serious failures in financial advice, conflicts management and licensee supervision. Sean Graham of Assured Support provided expert evidence on the adequacy of Financial Circle’s compliance arrangements.
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CASE INSIGHT

Australian Securities and Investments Commission v Mercer Superannuation (Australia) Limited [2026] FCA 832

The Federal Court’s $10.3 million penalty against Mercer Super shows that breach reporting failures are often systems failures. The judgment explains when an investigation begins, how reporting deadlines arise and why licensees need reliable, joined-up controls over incident management, regulatory reporting and data accuracy.
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