But D'Aloisio is happy to endorse Opes Prime as a successful model for ASIC.
"It was a good example of something being resolved quicker than it otherwise could have been through extensive litigation," he says.
"ASIC's role in that was not, in relation to the commercial settlement, the heavy-handed regulator. It was really about facilitating and assisting with the mediation of the issues but being clear what ASIC felt were real legal issues that needed to be sorted out and if they weren't, obviously ASIC reserved its position to then take action."
Talk to people at ASIC and you become familiar with D'Aloisio's metaphor of ASIC's role being one of attending a car crash.
"In any situation, I often use the example of the car accident or the train crash, where you turn up, you have a look at it, and clearly people have been hurt; there was a crash," he said.
"You can then look at focusing on who to blame, who did the wrongdoing, etc, but you also have got to look at those that are injured and how you can assist them, particularly retail investors."
