The financial services sector paid nearly $257 million in compensation and remediation to consumers and investors in the first half of this year.

An Australian Securities and Investments Commission enforcement report shows the regulator removed or restricted 68 individuals or companies from providing financial services or credit, and issued 16 infringement notices.

It also collected $20.44 million in civil penalties. Financial services misconduct accounted for 42% of enforcement actions, credit 32%, dishonest misconduct and misleading statements 18%, and misappropriation, theft and fraud 7%.