2.2.1. ASIC – Australian Securities and Investments Commission

The Australian Securities and Investments Commission is the independent government body responsible for regulating and overseeing financial markets, companies, and financial services providers in Australia.

ASIC’s primary role is to promote and enforce fair and transparent financial markets and to protect consumers and investors. Some of the key functions of ASIC include:

• Regulatory oversight: ASIC is responsible for overseeing the conduct of financial markets, companies, and financial services providers to ensure that they operate in a fair and transparent manner.
• Licensing and registration: ASIC are responsible for granting licenses to companies and individuals to operate in the financial services industry, such as banks, insurance companies, and financial advisers.
• Enforcement: ASIC has the power to investigate and prosecute breaches of financial laws and regulations, including insider trading, market manipulation, and fraud.
• Consumer protection: ASIC is responsible for protecting consumers from misconduct by financial services providers, such as misleading advertising, unfair contract terms, and predatory lending practices.
• Education and outreach: ASIC provides education and information to consumers and investors to help them make informed decisions about their finances.
• ASIC works closely with other regulators in Australia, such as the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia (RBA), as well as international regulators to promote global financial stability.
  

Refer to Australian Securities and Investments Commission