Powered by MOMENTUM MEDIA
subscribe to our newsletter

Government announces ASIC review

The federal government has commissioned a review to look into the capabilities of the corporate regulator.

Assistant Treasurer Josh Frydenberg said the capability review will ensure the regulator has the “appropriate governance, capabilities and systems” to meet regulatory challenges.

Mr Frydenberg added that the review forms part of the government’s response to the Financial System Inquiry, which recommended periodic reviews of the capabilities of financial regulators.

“Findings of the capability review will also provide information to assist the Government’s consideration of the Murray Inquiry recommendation for ASIC’s regulatory activities to be funded by industry,” he said.

The review committee will be chaired by a commissioner of the productivity commission, Karen Chester, former chief executive of the Queensland Treasury Mark Gray, and Madgwicks Lawyers partner David Galbally.

Advertisement
Advertisement

PROMOTED CONTENT


“The expert panel will be supported by a team of public and private sector personnel, and will provide a final report to government by the end of 2015,” Mr Frydenberg said.

“In undertaking the review, the expert panel will consult extensively with private sector businesses regulated by ASIC, peak bodies, regional and consumer representatives and other stakeholders.”

Government announces ASIC review
mortgagebusiness

Latest News

US-based global asset manager Ares Management has made a non-binding conditional proposal to bid for 100 per cent of AMP Ltd shares. ...

The major bank’s FY20 cash profit has plummeted 42 per cent on the prior comparable period, driven by full-year credit impairment charges ...

A former property developer has been found guilty of fraud in relation to obtaining funds from SMSF investors following an ASIC investigatio...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Court cases and penalties

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.