Overview
ASIC has published its enforcement results for the 2025-26 financial year (July 2025 to June 2026). Courts ordered a record $830 million in civil penalties against financial services firms during the year. Alongside those penalties, $643.5 million is being returned to customers and investors through remediation and refunds connected to ASIC's work.
Civil penalties ordered
The following firms were among those penalised during 2025-26:
- Union Standard International Group - $300 million for CFD misconduct
- HSBC Bank Australia - $35 million for scam protection failures
- Macquarie Securities - $35 million for short sale misreporting
- Walker Stores trading as Snaffle - $33.5 million for unlawful credit practices that overcharged consumers nearly $20 million
- Westpac - $26 million for hardship response failures
- Mercer Super - $10.3 million for failing to report significant breaches to ASIC
Customer remediation and refunds
A total of $643.5 million is being returned to customers and investors through remediation and refunds connected to ASIC's work. HSBC has paid around $21.5 million so far under a large-scale compensation program, with further payments due before the end of July 2026.
Criminal convictions
ASIC recorded 25 criminal convictions during the year, including 21 custodial sentences with 11 individuals sent to prison. ASIC also launched more than 250 investigations during the year.
Areas of enforcement focus
The 2025-26 results reflect ASIC's active enforcement activity across the following areas:
- Scam protection failures
- Hardship response obligations
- Credit practices, including overcharging
- Superannuation breach reporting
- Market conduct
Further information
Detail on individual cases is available through the following ASIC media releases at asic.gov.au/about-asic/news-centre/find-a-media-release/:
- 26-117MR - Union Standard CFDs
- 26-126MR - HSBC scams
- 26-107MR - Westpac hardship
- 26-099MR - Snaffle credit
The full ASIC enforcement results announcement is available at asic.gov.au.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.