The Australian Securities & Investments
Commission is an independent Australian
government body that acts as Australia's
corporate regulator. ASIC's role is to
enforce and regulate company and
financial services laws to protect
Australian consumers, investors and
creditors. ASIC was established on 1
July 1998 following recommendations from
the Wallis Inquiry. ASIC's authority and
scope is determined pursuant to the
Australian Securities and Investments
Commission Act, 2001.
ASIC is responsible for the
administration of all or parts of the
following legislation:
Corporations Act, 2001
Insurance Contracts Act, 1984
National Consumer Credit Protection Act,
2009
History 
ASIC was originally formed as the
Australian Securities Commission, which
came into being on 1 January 1991 in
accordance with the ASC Act 1989. The
purpose of the ASC was to unify
corporate regulators around Australia by
replacing the National Companies and
Securities Commission and the Corporate
Affairs offices of the states and
territories.
The corporate regulator became the
Australian Securities & Investments
Commission on 1 July 1998, when it also
became responsible for consumer
protection in superannuation, insurance,
deposit taking. It has since gained
further responsibilities: in 2002 for
credit, the Australian Stock Exchange in
2009, and Chi-X in 2011.
In 2012, ASIC called for powers to use
data which other intelligence agencies
have intercepted.
Areas of responsibility 
ASIC's areas of responsibility include:
corporate governance
financial services
securities and derivatives
insurance
consumer protection
financial literacy.
ASIC's consumer website
www.moneysmart.gov.au was launched on 15
March 2011. MoneySmart replaced ASIC's
two previous consumer websites, FIDO and
Understanding Money. MoneySmart aims to
help people make good financial
decisions by providing free, independent
and unbiased information, tools and
resources.
See also 
Australian Accounting Standards Board
Australian Prudential Regulation
Authority
Australian Registered Scheme Number
Australian Takeovers Panel
Economy of Australia
Reserve Bank of Australia
Securities Commission
List of financial regulatory authorities
List of company registers
References 
^ Australian Public Service Commission,
State of the Service Report: State of
the Service Series 2012-13, Australian
Public Service Commission, p. 253,
archived from the original on 6 December
2013 
^ "ASIC at a glance". ASIC. 11 April
2005. Retrieved 16 April 2005. 
^ "The laws ASIC administers". ASIC. 1
February 2005. Retrieved 16 April 2005. 
^ David Ramli. "ASIC calls for more
phone-tapping powers". Australian
Financial Review. Retrieved 16 October
2012. 
External links 
Australian Securities & Investments
Commission
MoneySmart - the consumer website of
Australian Securities & Investments
Commission
