ASIC is Australia’s corporate, markets and financial services regulator.
We contribute to Australia’s economic reputation and wellbeing by ensuring that Australia’s financial markets are fair and transparent, supported by confident and informed investors and consumers.
We are an independent Commonwealth Government body. We are set up under and administer the Australian Securities and Investments Commission Act (ASIC Act), and we carry out most of our work under the Corporations Act.
The Australian Securities and Investments Commission Act 2001 requires us to:
uphold the law uniformly, effectively and quickly
promote confident and informed participation by investors and consumers in the financial system
make information about companies and other bodies available to the public
improve the performance of the financial system and the entities within it.
Who we regulate
We regulate Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit.
As the corporate regulator, we are responsible for ensuring that company directors and officers carry out their duties honestly, diligently and in the best interests of their company.
As the markets regulator, we assess how effectively authorised financial markets are complying with their legal obligations to operate fair, orderly and transparent markets. We also advise the Minister about authorising new markets.
As the financial services regulator, we license and monitor financial services businesses to ensure that they operate efficiently, honestly and fairly. These businesses typically deal in superannuation,managed funds, shares and company securities,derivatives, and insurance.
A guide to how we work explains what we do, how we approach issues, how we consult with stakeholders and how we are accountable.
Protecting consumers and investors
We have powers to protect consumers against misleading or deceptive and unconscionable conduct affecting all financial products and services,including credit.
Our guide for consumers and investors outlines our services to help consumers make informed decisions about financial products and services, understand their rights and responsibilities, and identify and avoid scams.
Our FIDO website has financial tips and safety checks for consumers and investors.
Our Priorities 2007-08
On 30 May 2007, Tony D'Aloisio, Chairman of ASIC, presented an opening statement to the Senate Standing Committee on Economics. His statement outlined six priorities that we will focus on over the next 12 months.
Our Strategic Plan
Our 2005–10 Strategic Plan: Working together for fair and efficient markets and confident, informed consumers identifies the five key goals and strategies we will use to respond to the challenges ASIC faces.
