While James Hardie Industries has signed a $1.6 billion compensation deal for people affected by their asbestos products, the Australian Securities and Investments Commission's (ASIC) investigation into James Hardie’s asbestos funding scandal is ongoing.

Media reports suggest ASIC is investigating a new range of possible offences by James Hardie executives, including one carrying a jail term.

ASIC spokesman Angela Friend confirmed to Sunrise Exchange News that an inquiry is under way. “But we can’t beat it up and say we’re pursuing a criminal investigation of anyone, because the investigation is ongoing.”