The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors.[2] ASIC, which reports to the treasurer, was established on 1 July 1998 following recommendations from the Wallis Inquiry.
Areas of responsibility
ASIC's authority and scope are determined by the Australian Securities and Investments Commission Act 2001.
ASIC's areas of responsibility include:
ASIC's consumer website www.moneysmart.gov.au was launched on 15 March 2011. MoneySmart replaced ASIC's two previous consumer websites, FIDO and Understanding Money. MoneySmart aims to help people make good financial decisions by providing free, independent and unbiased information, tools and resources.
ASIC is responsible for the administering the following legislation:[3] Additionally, ASIC is also responsible for administering parts of the following legislation: