Regulatory enforcement in 2026: What boards and governance teams need to watch

Regulatory enforcement momentum across Australia shows little sign of easing in 2026. In fact, recent signals from ASIC, the ACCC, AUSTRAC and the ACNC suggest regulators are building on the strong activity of the past year and sharpening their expectations of boards, executives and governance functions.

For governance professionals, the year ahead is less about isolated enforcement actions and more about understanding where regulators are directing their attention and why. Across sectors, a consistent theme is emerging. Regulators want to see governance frameworks that translate into practical oversight, clear accountability and timely action.

ASIC: enforcement confidence and a sharper edge

ASIC enters 2026 with what it has described as strong and visible enforcement outcomes. The regulator has publicly pointed to a significant increase in investigations and court proceedings over the past year, reinforcing its intention to remain an active presence in the market. Its 2026 enforcement priorities reflect both emerging risks and enduring concerns, including misleading pricing practices, poor private credit conduct, financial reporting failures and insurer complaints handling.

For governance professionals, ASIC’s message is not simply about compliance with rules. It is about the quality of oversight and the reliability of information flowing to boards. Financial reporting, audit quality and transparency remain central, particularly as unlisted and complex investment structures play a larger role in the economy. Boards should expect scrutiny not just of outcomes, but of how decisions are made and monitored over time. The recent Judgement in the Star Case is an excellent example of the need to focus on governance processes, particularly the systems through which information and risks reach directors.

ACCC: trust, transparency and accountability

The ACCC’s 2026–27 compliance and enforcement priorities continue its strong focus on conduct that undermines consumer trust and effective competition. Cost‑of‑living pressures are a clear driver, with particular attention on misleading pricing, unfair contract terms and manipulative practices in digital markets. Essential services, supermarkets, retail and aviation all feature prominently, alongside enduring priorities such as cartel conduct and misuse of market power.

Notably, the ACCC has been explicit about accountability. It has signalled a willingness to pursue high penalties where harm is significant and to examine the role of senior executives where a poor compliance culture is evident. For governance teams, this reinforces the importance of clear escalation pathways, robust assurance and board‑level engagement with consumer and competition risks.

AUSTRAC: reform readiness and sustained vigilance

AUSTRAC’s regulatory expectations for 2025–26 set the tone for the year ahead as major AML and CTF reforms move from policy to implementation. The regulator has been clear that it expects reporting entities to actively prepare for the reforms, manage significant money laundering and terrorism financing risks, and maintain effective core controls.

A key governance challenge lies in ensuring programs are not treated as static. AUSTRAC has emphasised that AML and CTF frameworks must be reviewed, resourced and adapted as risks evolve. With new sectors joining the regime in 2026, boards should be asking whether oversight arrangements are sufficient to support compliance through a period of change.

ACNC: governance fundamentals under the spotlight

For charities and not‑for‑profits, the ACNC’s regulatory focus highlights governance fundamentals rather than dramatic shifts. Effective record‑keeping, transparency and compliance with governance standards remain central to maintaining public trust. The regulator has been clear that it will act where there is a risk of serious wrongdoing or harm, while continuing to take a proportionate and education‑led approach.

For boards, this underscores the importance of fit‑for‑purpose governance systems that support sound decision‑making and accountability, regardless of size or complexity.

What this means for governance professionals

Across all four regulators, the direction is consistent. Enforcement activity is becoming more confident, more targeted and more focused on governance in practice. For governance professionals, 2026 presents both challenge and opportunity. Strong governance frameworks, informed boards and proactive oversight are no longer just good practice. They are increasingly central to how regulators assess organisational conduct and resilience.