The corporate regulator says its company-level breach and complaints “dashboards” will increase transparency, drive improved performance and help deliver better outcomes.

The Australian Securities and Investments Commission is consulting on proposals to publish two dashboards later this year featuring information on reportable situations and internal dispute resolution, aiming to make companies “lift their game”.

Australian financial services licensees must notify ASIC of compliance breaches under the reportable situations regime, and most must also provide internal dispute resolution data every six months.

Last year, ASIC published high-level overviews but indicated it will move to detailed reporting.

A consultation paper released last week confirms it plans to name companies in the data, which would be published annually for reportable situations and twice a year for disputes.

Breach details that may feature include the nature of the issue; number of customers affected and estimated financial losses; time taken to identify problems and start investigations; compensation; and measures to prevent similar incidents happening again.

In the dispute data, it is considering publishing details of the product or service; complainant demographic factors, which “may or may not be presented at firm level”; and details on timings, outcomes and monetary remedies.

Comments on the consultation paper are due by May 14 and publication of the dashboards is expected to begin from the September-December period.

The paper is available here.