Mercer should not be treated as a superannuation-only story. ASIC’s action against Mercer Super alleged failures to report internal investigations into serious member service issues, including multiple unreported investigations and one reported more than a year late. The reported issues included deceased-member insurance premium refunds, default insurance allocation and member information updates; ASIC also alleged false or misleading information about affected member numbers

Scam compliance has moved from a fraud operations issue to a legal, governance and customer-outcomes issue. For banks and payment providers, ASIC’s HSBC action and Treasury’s Scams Prevention Framework should be read together: one shows how existing obligations can already bite; the other shows where the regulatory perimeter is heading. The practical message is clear. Firms should not wait for every new rule, code or liability pathway to be finalised before testing whether th

ASIC and APRA have made the message clear: artificial intelligence is no longer just a technology implementation issue. For financial services firms, AI is now a governance, cyber resilience, privacy, outsourcing and accountability issue. ASIC’s 8 May 2026 open letter to AFS licensees and market participants warned that frontier AI is changing the cyber threat environment by increasing the capability, speed and accessibility of sophisticated attacks. ASIC’s point was not that