ASIC has assured nervous brokers and advisers that no-one would benefit from prosecutions "for the sake of it" as the financial watchdog takes a bolder approach to litigation following the royal commission.
Greg Yanco, the Australian Securities and Investment Commission's executive director of markets, said the regulator would increase the number of matters it takes to court but only if it was in the public interest.
"It's not the way to go first and litigate everything," Mr Yanco said at the Stockbrokers and Financial Advisers Conference in Sydney.
"We don't have unlimited resources, and that really wouldn't play to the result we're looking for, which is addressing deterring future misconduct, and really making the community expectations of wrongdoing will be dealt with appropriately through the courts."
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