Paul Rayson, CommSec Managing Director said:

"We acknowledge and regret these process errors. There were no losses to customers and the errors have now been rectified. We notified relevant customers and no complaints or issues have been raised. 

"Our customer and regulatory responsibilities are of paramount importance, and we have worked collaboratively with ASIC on these matters since notifying the regulator in 2013.

"We are fully committed to providing secure and convenient services to our customers."

Click here to see the full announcement from ASIC.