According to Mr Longo, simplifying the regulatory environment has become a key part of ASIC's strategy.

"Less than a year ago I convened the ASIC Simplification Consultative Group to consider what we can do to reduce regulatory complexity and help Australians navigate it," he said. "A focus on simpler and better regulation is now a concrete part of ASIC's 2025-29 plan and will see the agency continue that focus to make it easier to interact with ASIC to understand our expectations, for us to administer the law and ultimately to cut red tape."