The Australian Securities and Investments Commission (ASIC) says it won’t release any of the findings into its investigation into brokers’ remuneration practices until the end of April, despite originally saying it would make a statement on the progress of its investigation by the end of March.

It’s been no secret that the results of the investigation would be stalled, but earlier this month ASIC Executive Director FSR Ian Johnston – who leaves ASIC this week to join the Hong Kong Securities and Futures Commission – said that while the regulator wouldn’t be ready to release the findings of its report by March, it would make a statement on the investigation.

But ASIC spokesman Angela Friend told Sunrise Exchange News the regulator “is not likely” to issue a statement about the progress of the investigation this week. Instead, she says it will release its full findings by the end of April.

“The findings have been delayed because when we released the questionnaires, many industry members asked for and were granted extensions on the deadline.”

ASIC announced on November 30 last year that it would examine brokers’ remuneration practices to “establish whether insurance brokers are acting in the best interests of their clients”.

Earlier this month Mr Johnston said ASIC will be “doing a lot of work on the issue” over the next two years to ensure consumers’ interests are being met.