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As part of its commitment to enhance transparency and accountability, ASIC is consulting on plans to publish two dashboards containing firm-level Reportable Situations (RS) and Internal Dispute Resolution (IDR) data in the second half of 2025.
The proposals detailed in CP 383 Reportable situations and internal dispute resolution data publication (CP 383) build on the high-level insight reports ASIC has previously published.
ASIC Commissioner Alan Kirkland said the publication of the dashboards would boost transparency, drive improved performance, and help deliver better consumer outcomes, the latter being one of ASIC’s key strategic priorities.
‘Publishing Reportable Situations and Internal Dispute Resolution data will encourage firms to lift their game. It also provides consumers and investors access to this data at firm level, further encouraging confident and informed participation in the financial system,’ Commissioner Kirkland said.
Under the proposal, ASIC will exercise its legislative powers to publish the firm-level data reported to ASIC, supporting the objectives of both the RS and IDR regimes by:
- enhancing transparency and accountability to encourage improved behaviour and increase confidence in the financial system
- highlighting areas of concentration of significant breaches and complaints, and
- enabling firms to target improvements in their compliance outcomes, consumer outcomes and firm performance.
ASIC is inviting stakeholders to comment on proposals outlined in CP 383, which indicates current thinking and may not be ASIC’s final approach.
‘We encourage stakeholders to respond to the key questions in our consultation paper. Your engagement will help ASIC assess the full impact of our data publication proposals and consider any alternative approaches,’ Commissioner Kirkland said.
ASIC is streamlining engagement for stakeholders by seeking feedback on both data publications through a single process, to align our approach to publication where appropriate.
Providing feedback
Stakeholders should provide feedback by COB Wednesday 14 May 2025 to:
- Australian Securities and Investments Commission, GPO Box 9827, Melbourne VIC 3001, or
- data.publication@asic.gov.au.
Stakeholders are encouraged to provide feedback using the tables in Appendix B of CP 383, which is provided as a separate attachment. Additional details about the submission process can be found in the consultation paper.
Please refer to ASIC’s privacy policy for more information on how ASIC handles personal information, rights to seek access to and correct personal information, and the right to complain about breaches of privacy by ASIC.
Background
Australian financial services (AFS) and credit licensees are required to report compliance breaches to ASIC under the RS regime, and ASIC is required each year to publish information about reports lodged and the entities to which those reports relate.
The IDR regime requires certain financial firms to report all complaints received through their IDR processes. ASIC is empowered to publish firm level information about complaints received.
In previous years, ASIC published thematic reports on RS and IDR but has since foreshadowed the intention to publish more granular data following consultation.
ASIC’s Corporate Plan 2024–25 outlined that as a part of ASIC’s commitment to improving consumer outcomes, ASIC will publish firm-level IDR data in 2025, in addition to developing a framework for the ongoing publication of data about the reports received under the RS regime.
