ASIC meaning in Accounts and Finance ?

Answer:

What is Australian Securities and Investment Commission mean?

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. 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:

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

Additionally, ASIC is also responsible for administering parts of the following legislation:

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

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