subscribe to our newsletter
Government announces ASIC review

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.

“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 logo

Latest News

Legislation has been introduced by the federal government aimed at strengthening the prudential regulator to ensure stability and accountabi...

Australia’s premium housing market has softened more than its more affordable segment, according to the latest CoreLogic Decile Report. ...

Global ratings agency Moody’s has joined a chorus of analysts forecasting tighter mortgage policies as a result of the royal commission’...

Promoted Stories

podcast

LATEST PODCAST: Macquarie merger, WA property tax and AMP staff haemorrhage

Do you expect access to credit to get harder this year?