ASIC secures $10.3 million in penalties against Mercer Super for systemic reporting failures

26-136MR

civil penalty29 June 2026Penalty $10.30M

Respondent

Mercer Super

Facts

The Federal Court has ordered Mercer Super pay penalties totalling $10.3 million for systemic failures to report investigations into significant member services issues to ASIC, including an investigation into insurance premiums continuing to be charged after members had died, and only refunded later.

Outcome

ASIC civil penalty of $10,300,000 — Mercer Super (2026-06-29). See the ASIC source for the full terms.

What does this action mean for your compliance program?Hand this question to the Rules Mate AI advisor — it is already written for you. Cited answers from the live obligation, regulator and enforcement corpus.Ask the AI advisor

Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-136mr-asic-secures-103-million-in-penalties-against-mercer-super-for-systemic-reporting-failures

Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.