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Remediation & Rectification

CASE INSIGHT

Australian Securities and Investments Commission v AustralianSuper Pty Ltd [2025] FCA 102

ASIC v AustralianSuper Pty Ltd [2025] FCA 102 sets an important enforcement benchmark for superannuation trustees. The decision confirms that best-interests duties require effective operational systems, accountable ownership and timely remediation where duplicate accounts cause avoidable fees, insurance premiums and lost investment earnings.
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CASE INSIGHT

Australian Securities and Investments Commission v United Super Pty Ltd [2025] FCA 1453

In ASIC v United Super Pty Ltd [2025] FCA 1453, the Federal Court imposed $23.5 million in penalties over unreasonable delays in death, terminal illness and disability claims, together with breach-reporting failures. The decision reinforces trustee accountability for outsourced claims handling, data quality, remediation and timely escalation.
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CASE INSIGHT

Australian Securities and Investments Commission v Westpac Banking Corporation (Omnibus) [2022] FCA 515

In ASIC v Westpac Banking Corporation (Omnibus) [2022] FCA 515, the Federal Court imposed $113 million in penalties across six proceedings involving systemic fee, insurance, debt-sale and customer-account failures. The decision reinforces the independent obligation to provide financial services efficiently, honestly and fairly, supported by effective systems, records and remediation.
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Step 1 of 8 - Your Role

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Assess your ASIC exposure

Answer a few targeted questions to identify where your compliance may not stand up under ASIC review.

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What best describes your role?