The Australian Securities and Investments Commission (ASIC) secured $13.4 million in compensation and remediation for consumers and investors in the six months to June 30.

The regulator’s latest enforcement report highlights February’s comprehensive enforceable undertaking from Ace Insurance following an investigation into the activities of its subsidiary, Combined Insurance.

Ace admitted a “limited number” of authorised representatives engaged in overselling, twisting or churning policies. It had to pay $1 million to financial counselling and literacy initiatives, and a “significant sum” to compensate customers.

The report says ASIC laid 96 criminal charges in the six months, issued 75 infringement notices, removed 24 individuals from financial services, started 101 investigations and completed 93.

ASIC’s priorities over the next six months include conduct risk and the integrity of financial market benchmarks.

“Recent enforcement outcomes highlighted in this report reflect ASIC’s unwavering commitment to ensuring Australia’s markets remain a level playing field for all investors,” ASIC Commissioner Cathie Armour said.