ASIC seeks consultation on proposal to publish firm level breach and complaints data 

Date: 11 April 2025
Source: Australian Securities and Investments Commission 

In a significant move aimed at enhancing transparency and accountability within the financial sector, the Australian Securities and Investments Commission (ASIC) has announced its plan to publish firm-level data on Reportable Situations (RS) and Internal Dispute Resolution (IDR). This initiative, detailed in Consultation Paper 383 (CP 383), is set to roll out in the latter half of 2025 and is currently open for stakeholder consultation. 

Background 

ASIC's proposal to publish firm-level RS and IDR data is a continuation of its strategic priority to improve consumer outcomes and boost confidence in the financial system. The RS regime mandates Australian financial services (AFS) and credit licensees to report compliance breaches to ASIC, while the IDR regime requires certain financial firms to report all complaints received through their internal processes. Historically, ASIC has published thematic reports on these data sets, but the new proposal aims to provide more granular, firm-specific insights. 

Consultation 

ASIC is actively seeking feedback from stakeholders on the proposals outlined in CP 383 The proposals include: 

• how ASIC will present and contextualise the RS and IDS data…