 | |
| Commission overview | |
|---|---|
| Formed | 1 July 1998 |
| Preceding agencies |
|
| Dissolved | Australian Securities Commission |
| Jurisdiction | Australia |
| Headquarters | Sydney, New South Wales |
| Employees | 1,656 (2018–19)[1] |
| Minister responsible |
|
| Commission executive |
|
| Parent department | Treasury |
| Website | asic |
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 was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's authority and scope are determined by the Australian Securities and Investments Commission Act 2001.
ASIC, which reports to the Treasurer, is responsible for the administering the following legislation:[3]
- Australian Securities and Investments Commission Act 2001 (ASIC Act)
- Business Names Registration Act 2011
- Corporations Act 2001 (Corporations Act)
- Insurance Contracts Act 1984
- National Consumer Credit Protection Act 2009 (National Credit Act)
Additionally, ASIC is also responsible for administering parts of the following legislation:[3]
- Banking Act 1959
- Life Insurance Act 1995
- Medical Indemnity (Prudential Supervision and Product Standards) Act 2003
- Retirement Savings Accounts Act 1997
- Superannuation (Resolution of Complaints) Act 1993
- Superannuation Industry (Supervision) Act 1993 (SIS Act).
- ^ Annual Report 2017–2018 (PDF), Australian Securities and Investments Commission, 2018, p. 168
- ^ "Overview of ASIC". Parliament of Australia. Retrieved 13 September 2019.
- ^ a b "Laws we administer". ASIC. Retrieved 9 February 2021.