Check against delivery
I am pleased to appear before the Committee once more today. I am joined by Deputy Chair Sarah Court and Commissioner Kate O鈥橰ourke. I am also pleased to welcome today our newest Commissioners Alan Kirkland and Simone Constant, who commenced at ob体育 in November last year.
Also present today are Chief Executive Officer Warren Day, our General Counsel Chris Savundra and Executive Director of Regulation and Supervision, Greg Yanco.
I look forward to working with the new ob体育 Commission and the leadership team under our renewed organisational structure as we continue to deliver ob体育鈥檚 important work.
We will soon be issuing our Enforcement and Regulatory update for the last quarter. I鈥檒l leave you with a few observations that show ob体育鈥檚 enforcement record continues to remain strong across our broad remit:
- In the last quarter alone we commenced over 80 investigations, charged 19 individuals with criminal offences and secured 9 criminal convictions.
- Our civil enforcement work resulted in almost $60 million in penalties awarded by the courts.
- We issued two infringement notices in relation to our concerns about greenwashing.
- In November, we launched our first civil penalty action under the internal dispute resolution (IDR) regime, alleging Telstra Super Pty Ltd failed to comply with the relevant requirements.
- And just last Friday saw one Australia鈥檚 first court decisions on the application of the financial services law to crypto. The Federal Court agreed with ob体育鈥檚 argument that that fintech company Block Earner was required to have a financial licence in offering its crypto-backed fixed yield product.
We鈥檙e pleased to answer the Committee鈥檚 questions today.