ASIC has released an updated Regulatory Guide 100 Enforceable undertakings (RG 100) and Information Sheets 151 and 152 discussing how it undertakes investigations and enforcement activity.

Information Sheet 151 sets out ASIC’s decision making process in respect of whether to conduct an investigation either as a result of people reporting misconduct to it, as a result of its own monitoring/ surveillance work, referrals by other regulators or reports it receives as required by law.

ASIC says that its decision on whether to take enforcement action is based on assessing evidence, cost vs regulatory benefit and level of harm or loss.