Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) 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 Australiann consumers, investors and creditors.
Related Legislation ASIC administers the following legislation (or relevant parts of it), as well as relevant regulations made under it: Corporations Act 2001Australian Securities and Investments Commission Act 2001Insurance Contracts Act 1984Superannuation (Resolution of Complaints) Act 1993Superannuation Industry (Supervision) Act 1993Retirement Savings Accounts Act 1997Life Insurance Act 1995Medical Indemnity (Prudential Supervision and Product Standards) Act 2003
History ASIC was originally formed as the Australian Securities Commission (ASC), which came into being on 1 January 1991 in accordance with the ASIC Act 1989. The purpose of 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 (ASIC) on 1 July 1998, when it also became responsible for consumer protection in superannuation, insurance, deposit taking and, from 2002, credit.
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