Australian Securities and Investments Commission

Australian Securities and Investments Commission

Commission overview
Formed	1 July 1998 (1998-07-01)
Preceding agencies	National Companies and Securities Commission Corporate Affairs offices in the states and territories
Dissolved	Australian Securities Commission
Jurisdiction	Australia
Headquarters	Sydney, New South Wales
Employees	1,656 (2018–19)[1]
Minister responsible	Stephen Jones, Assistant Treasurer and Minister for Financial Services
Commission executive	Joseph Longo, Chair
Parent department	Treasury
Website	asic.gov.au

The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors.^[2] ASIC was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's authority and scope are determined by the Australian Securities and Investments Commission Act 2001.

ASIC, which reports to the Treasurer, is responsible for the administering the following legislation:^[3]

• Australian Securities and Investments Commission Act 2001 (ASIC Act)
• Business Names Registration Act 2011
• Corporations Act 2001 (Corporations Act)
• Insurance Contracts Act 1984
• National Consumer Credit Protection Act 2009 (National Credit Act)

Additionally, ASIC is also responsible for administering parts of the following legislation:^[3]

• Banking Act 1959
• Life Insurance Act 1995
• Medical Indemnity (Prudential Supervision and Product Standards) Act 2003
• Retirement Savings Accounts Act 1997
• Superannuation (Resolution of Complaints) Act 1993
• Superannuation Industry (Supervision) Act 1993 (SIS Act).