A speech by Belinda Gibson, Deputy Chairman, Australian Securities and Investments Commission to the Financial Information Services Division (FISD) of the Software and Information Industry Association, 16 April 2012.
'ASIC has set its agenda for the coming year, based on three priorities, around which we organise our business:
confident and informed investors;
fair and efficient markets; and
efficient registration and licensing.
'ASIC’s focus in the markets area is to promote fair and efficient markets in Australia. With this focus, ASIC is concerned with:
fair, orderly and transparent financial markets;
efficient capital raising on our markets; and
the international competitiveness of our markets.
'The task of supervision of our markets does not get any simpler. Trading can be effected directly through internet capabilities. Trading is increasingly sourced from offshore. The equities and derivatives markets are more closely linked. The products on offer are more complex. We must add to this the anticipated huge increase in superannuation for funds under management, from $1.3 trillion to $3 trillion over the next decade. Much of that will go into our markets.'