The enforcement office of the corporate regulator will prioritise “matters related to misconduct in insurance” out to 2021, the latest update from the Australian Securities and Investments Commission (ASIC) says.

ASIC drew up new enforcement strategy and priorities for 2019–21 late last year and says in its latest half-year report that it “will always prioritise” financial services misconduct.

ASIC’s Corporate Plan highlights “addressing harms in insurance” as one of seven top strategic priorities.

“Drawing on ASIC’s strategic priorities, the Office of Enforcement will prioritise these types of matters in 2019–21,” the enforcement update says.

The regulator says the COVID-19 crisis will impact its enforcement of industry regulation, with some work delayed or affected by the crisis.

“We are committed to performing our work in a manner that is considerate to industry participants who may be facing significant disruption,” ASIC says.

In the last six months of 2019 ASIC increased its capacity to investigate misconduct, took on more enforcement work and responded to matters related to the financial services royal commission.

From July to December, 48 individuals were removed or restricted from providing financial services or credit and 29 individuals were disqualified or removed from directing companies.

No court-enforceable undertakings and no community benefit payments were made in this reporting period.

ASIC recorded 55 financial services-related results during the half-year, with 14 criminal and 58 civil financial services-related matters still before the courts on January 1.