Australian Securities and Investments Commission information
Corporate regulation agency of the Australian Government
Australian Securities and Investments Commission
Commission overview
Formed
1 July 1998 (1998-07-01)
Preceding agencies
National Companies and Securities Commission
Corporate Affairs offices in the states and territories
Dissolved
Australian Securities Commission
Jurisdiction
Australia
Headquarters
Sydney, New South Wales
Employees
1,656 (2018–19)[1]
Minister responsible
Stephen Jones, Assistant Treasurer and Minister for Financial Services
Commission executive
Joseph Longo, Chair
Parent department
Treasury
Website
asic.gov.au
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 Idemnity (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.
^ ab"Laws we administer". ASIC. Retrieved 9 February 2021.
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