ASIC – Australia

The Australian Securities & Investments Commission (ASIC) is an independent financial regulator in Australia. ASIC has the role to enforce and regulate financial services laws in order to protect Australian consumers, creditors and investors. ASIC was formed in 1 July 1998 and has his jurisdiction on Commonwealth of Australia. The company headquarters are at Sydney, New South Wales. The minister responsible for this agency is the Treasurer of Australia.

The Australian Securities & Investments Commission has many responsibilities in different areas like corporate governance, financial services, securities and derivate, insurance, consumer protection and financial literacy.

ASIC has as main responsibilities to register companies and manages investment schemes, to grant Australian financial service licenses and Australian credit licenses, to register auditors and liquidators, maintain publicity accessible registers of information about companies, financial services licensees and credit licensees. Also they have the right to investigate suspected breaches of the law and ban people from engaging in credit activities or providing financial services.