Australian Securities and Investments Commission
The Australian Securities and Investments Commission ( ASIC ) is an independent Australian government agency that oversees companies that provide financial services.
ASICs is a regulatory agency that reviews compliance with Australian financial services laws. This affects both consumers and investors and creditors.
Legal regulations
The ASIC was founded on July 1st, 1998 on the recommendation of the so-called Wallis Inquiry . The authority and scope of ASIC is regulated by law under the Australian Securities and Investments Commission Act, 2001.
The ASIC is subordinate to the Treasurer (German: Finance Minister ). It is responsible for the administration of the following laws in whole or in part:
- Company Act, 2001
- Insurance Contract Act, 1984
- National Consumer Credit Protection Act, 2009
tasks
ASIC's work affects more than 2 million Australian companies, including more than 5,000 financial services providers, 5,800 lenders , 4,800 advisory firms, 680 bankruptcy administrators , 4,150 registered wealth management companies and 18 Australian stock exchanges .
The tasks of the ASIC include:
- Financial services
- Securities and Derivatives
- Insurance
- Consumer protection
- Corporate management
ASIC employs around 1200 people.
Web links
Individual evidence
- ↑ a b c Overview of ASIC , on Australian Parliament , accessed October 28, 2019
- ^ Forex Brokers Australia Registered with Australian Securities and Investment Commission . Retrieved April 29, 2020.