Car Loans Australia
Private & Commercial Car Loans for New & Used Vehicles
Car Loans Australia :: News
SHARE

Share this news item!

ASIC to Name Financial Licensees in New Breach Transparency Initiative

ASIC to Name Financial Licensees in New Breach Transparency Initiative

ASIC to Name Financial Licensees in New Breach Transparency Initiative?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Australian Securities and Investments Commission (ASIC) has proposed a new regulatory framework aimed at increasing transparency in the financial industry by identifying financial planning licensees who report breaches.
Revealed in a consultation paper, CP 383, this proposal would see ASIC start publishing Reportable Situations (RS) and Internal Dispute Resolution (IDR) data at both firm and industry levels, including the names and licence numbers of the offending companies.

This move marks a significant departure from ASIC's current practice of only publishing industry-level data, which omits individual firm details. Notably, the proposed dashboards will exclude personal information for licensees who are individuals, ensuring privacy is maintained.

ASIC's consultation paper outlines several key data elements it plans to share, including detailed information about licensees, the volume and nature of reported breaches, the extent and impact of these breaches, and subsequent remediation and rectification efforts. Additionally, the paper focuses on the licensees' investigative and reporting practices.

The primary objective behind this initiative is to enhance accountability and transparency within the financial sector. By making this data public, ASIC aims to incentivize improved behaviors and performance amongst financial services providers. It also intends to help both firms and consumers identify systemic issues characterized by significant breach volumes and recurring IDR complaints, providing a clearer focus for compliance efforts and improving consumer outcomes.

According to ASIC Commissioner Alan Kirkland, the public release of the proposed dashboard would significantly boost transparency, encouraging firms to bolster their performance. It will also offer consumers and investors a more accessible means to engage with firm-level data, promoting more informed decision-making and participation within the financial system.

The proposals detailed in CP 383 mark a pivotal step in ASIC's ongoing commitment to fostering a more transparent and accountable financial sector, with anticipated benefits not just for industry compliance but also for consumer trust and safety.

Published:Monday, 14th Apr 2025
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

Sign in with Google to rate

0 Comments

No comments yet. Be the first to share your thoughts.

Finance News

What the Latest RBA Rate Hold Means for Car Buyers
What the Latest RBA Rate Hold Means for Car Buyers
13 Aug 2026: Paige Estritori
The Reserve Bank of Australia's latest decision to leave the cash rate unchanged keeps car buyers in a familiar holding pattern: borrowing costs are not rising sharply, but they are not easing quickly either. For households planning a new or used vehicle purchase, that means the focus should remain on preparation, comparison and affordability rather than waiting for a dramatic rate shift. - read more
What ASIC’s Car Loan Review Means for Australian Buyers
What ASIC’s Car Loan Review Means for Australian Buyers
23 Jul 2026: Paige Estritori
Australia’s car finance market is sending buyers two important messages at once. Recent July rate snapshots show some secured car loans advertised from around the mid-five per cent range for strong-credit borrowers, suggesting competition is still alive for well-prepared applicants. At the same time, ASIC’s 24 June 2026 review of motor vehicle finance has put the spotlight on fees, third-party sales channels and borrower outcomes. - read more
What July's Cheapest Car Loan Rates Mean for Australian Buyers
What July's Cheapest Car Loan Rates Mean for Australian Buyers
16 Jul 2026: Paige Estritori
Australian car buyers have a fresh benchmark for what a competitive loan may look like, with Canstar's July 2026 car loan snapshot showing some secured new and near-new car loans advertised from the high five per cent range. For households already juggling fuel, insurance, registration and cost-of-living pressures, that headline number may look appealing. - read more
Luxury Car Tax Thresholds Rise for 2026-27: What It Means for Your Next Car Loan
Luxury Car Tax Thresholds Rise for 2026-27: What It Means for Your Next Car Loan
02 Jul 2026: Paige Estritori
Australian buyers shopping for a higher-priced new car have a fresh number to factor into their budget from 1 July 2026, with the Luxury Car Tax thresholds indexed for the 2026-27 financial year. - read more
What the 2026 Car Loan Awards Mean for Australian Buyers
What the 2026 Car Loan Awards Mean for Australian Buyers
25 Jun 2026: Paige Estritori
The latest 2026 personal and car loan awards from Mozo point to a clear message for Australian motorists: the lowest-cost car finance may not come from the lender you already bank with. The awards assessed hundreds of personal and vehicle loan products across dozens of lenders, with categories covering new car loans, used car loans, secured personal loans, excellent-credit borrowers and green car finance. - read more
Click for more Finance News


Car Loans Articles

Top Tips for Australians Navigating the Online Car Market
Top Tips for Australians Navigating the Online Car Market
The Australian automotive landscape has witnessed a significant transformation with the rise of online car sales. The concept of browsing, selecting, and purchasing a vehicle through digital platforms has gained immense popularity, offering consumers a vast array of choices at their fingertips. - read more
From Fuel to Finance: A Comprehensive Breakdown of Car Costs
From Fuel to Finance: A Comprehensive Breakdown of Car Costs
When it comes to owning a car in Australia, many of us view it as a symbol of freedom, an essential convenience, or even a reflection of our personal style. Yet, for all the road trips planned and errands run, the cost of owning a car extends well beyond the sticker price. - read more
How to Compare Car Loans: A Step-by-Step Guide for Australian Buyers
How to Compare Car Loans: A Step-by-Step Guide for Australian Buyers
When planning to take out a car loan, it is crucial to start by understanding your budget. Consider how much you can realistically afford to borrow without straining your finances. Assessing your monthly income and expenses will help you arrive at a sensible figure, ensuring you don't overcommit. - read more
5 Critical Steps to Take Before Applying for a Car Loan in Australia
5 Critical Steps to Take Before Applying for a Car Loan in Australia
Stepping into the world of auto financing can be as daunting as it is exciting. The commitment of a new car loan demands more than just desiring your dream car; it necessitates a balanced budget and a solid financial plan. Understanding how to prepare before signing on that dotted line is not only wise, it’s imperative for your financial health. - read more
Understanding Car Loan Refinancing in Australia: When Is It the Right Move?
Understanding Car Loan Refinancing in Australia: When Is It the Right Move?
Car loan refinancing involves replacing an existing car loan with a new one, usually to lower the interest rate, reduce monthly payments, or modify the loan term. In Australia's fluctuating economic landscape, refinancing can be a strategic financial decision for borrowers looking to adjust their finances to more favorable terms. - read more


Need Help Finding a Loan?
Get a free car loan eligibility assessment and compare offers tailored specifically to your circumstances.

Let's help find your car loan!

Loan Amount:

Postcode:

All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.

All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Equity:
The value of an ownership interest in an asset or company, after all debts and liabilities are deducted.


This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.
IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.