ASIC's Senior Executive responsible for Financial Advisers testifies at the Royal Commission
Channel: Banking Royal Commission
Date: 2018-05-21

[2.19] Louise Macaulay, senior executive responsible for financial advisers at the Australian Securities and Investments Commission (ASIC), is being questioned over ASIC's reluctance to use its powers to punish rogue financial advisers, revealing that the regulator had criminally prosecuted just one holder of an Australian Financial Services Licence in the past 10 years and had launched civil action against a licencee just six times.

Recorded on 27 April 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

Witness statement:
https://bit.ly/2GBtFJ2

Exhibit documents:
https://bit.ly/2rY94dE

Transcript:
https://bit.ly/2rY8PiK

Testimony held during the second round of public hearings on financial advice in Australia at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

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© Commonwealth of Australia 2018.

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