What we do
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:
maintain, facilitate and improve the performance of the financial system and entities in it
promote confident and informed participation by investors and consumers in the financial system
administer the law effectively and with minimal procedural requirements
enforce and give effect to the law
receive, process and store, efficiently and quickly, information that is given to us
make information about companies and other bodies available to the public as soon as practicable.
ASIC currently comes under the portfolio responsibilities of the Minister for Superannuation and Corporate Law, Senator, the Hon Nick Sherry.
Our priorities
ASIC's priorities are:
Assist and protect retail investors and consumers in the financial economy
Build confidence in the integrity of Australia's capital markets
Facilitate international capital flows and international enforcement
Manage the domestic and international implications of the global financial turmoil
Lift operational effectiveness and service levels for all ASIC stakeholders
Improve services and reduce costs by using new technologies and processes
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.
