Section 1: Agency overview
The Australian Securities and Investments Commission (ASIC) is an independent government body that enforces company and financial services laws to protect consumers, investors and creditors. The Commission is established under the Australian Securities and Investments Commission Act 2001 (ASIC Act).
The ASIC Act requires that the Commission:
- uphold the law uniformly, effectively and quickly;
- promote confident and informed participation by investors and consumers in the financial system;
- make information about companies and other bodies available to the public; and
- improve the performance of the financial system and the entities within it.
In performing its functions ASIC works closely with other financial, consumer and law enforcement bodies in Australia and internationally.
Table 1.1: Agency outcomes and output groups