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What is Australian Securities and Investments 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). referencePosted on 17 Oct 2024, this text provides information on Miscellaneous in Stock Exchange related to Stock Exchange. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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