ASIC announces its 2024 enforcement priorities regarding Superannuation and Financial Planning

ASIC has announced 12 new priorities for 2024 as well as six “enduring priorities”.

Two new priorities have been added in relation to the superannuation industry, including a focus on member services failures and misconduct relating to the erosion of superannuation balances. New priorities relating to insurance claims handling, compliance with financial hardship obligations and the reportable situation regime have also been added.

In addition, ASIC will be taking action against misconduct relating to used car financing to vulnerable consumers and gatekeepers such as auditors, registered liquidators and financial services and credit licensees who do not comply with their legal obligations.