24210 – APN Regulatory Velocity Multiplier™ (APN RVM™)

The APN Regulatory Velocity Multiplier™ tracks how actively Australia’s two primary financial regulators are pursuing enforcement action nationally: an equal-weighted blend of the investigations ASIC commences and the enforceable undertakings APRA accepts, read as a measure of regulatory intensity in the property-finance sector. Higher readings mean more enforcement activity.

It is a national time series and a component of the APN Risk & Compliance Index™ (24200).

Each input is read at its most recent published figure and held until the next one: an ASIC half-year count for one further quarter, an APRA calendar-year count for three. The node therefore carries a reading every quarter from December 2014. Each input is standardised against its own history (ASIC over 2014–2025, APRA over 2005–2025).

ASIC has not yet published its count for January–June 2026, so the latest quarter with both inputs is March 2026.

The March quarter 2026 reading, +1.1006σ, is the highest in the node’s record from December 2014, shared with the December quarter 2025, which carries the same two published figures. ASIC commenced 132 investigations in January–June 2025 and 123 in July–December 2025, its highest half-year counts since January–June 2015 (136). APRA accepted three enforceable undertakings in 2025, against one in each of the two preceding years.

The lowest readings fall in mid-2017, when ASIC commenced 57 investigations in a half-year and APRA accepted none in the preceding calendar year.

• Held readings. Each input is held until its next publication, for at most one native period, so consecutive quarters can carry the same figure. The reading changes only when ASIC or APRA publishes.
• ASIC’s published half-year counts and annual totals differ for 2019–20 and 2020–21. ASIC’s financial-year totals for those years (134 and 110) are below the sums of the half-year counts it published (159 in each year). The half-year counts are used as published.
• Small annual counts. APRA accepts between none and seven enforceable undertakings a year, so a single undertaking moves that input materially.
• History. ASIC first published a half-year count of investigations commenced for July–December 2014; quarters before then carry the APRA input only and are not ranked.

The other components of the APN Risk & Compliance Index™ (24200).