ASIC has released its Corporate Plan for 2022-26, outlining its strategic priorities for the next four years and its plan of action for the year ahead.

ASIC’s four external strategic priorities are:

• product design and distribution
• sustainable finance
• retirement decision making, with a focus on superannuation products, managed investments and financial advice, and
• technology risks, with a focus on digitally enabled misconduct.

ASIC’s Corporate Plan describes eight core strategic projects that set out the action ASIC plans to take to advance these four priorities:

• sustainable finance practices and disclosure of climate risks,
• addressing market integrity issues and investor harms in relation to crypto-assets (or cryptocurrency),
• disrupting and combatting financial scams to protect consumers,
• cyber and operational resilience,
• breach reporting,
• design and distribution obligations,
• better use of data and technology and,
• subject to the passage of legislation, the Financial Accountability Regime.

ASIC’s actions with respect to FAR will include:
› developing guidance and external engagement forums for industry;
› implementing a coordinated risk-based approach to registration activities under the regime
› increasing its focus on individual accountability in its regulatory and enforcement approach.

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