{ "entity_id": "O-000933", "folder": "Australian-Securities-and-Investments-Commission", "name": "Australian Securities and Investments Commission", "type": "Non-corporate Commonwealth Entity", "jurisdiction": "Commonwealth", "portfolio": "Treasury", "website": "https://asic.gov.au", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": true, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": true, "has_global_initiatives_text": true, "has_ideas": true, "has_artifacts": true, "n_ideas": 8, "n_legislation": 11, "n_artifacts": 16, "n_kpi_targets": 4, "n_kpi_results": 4, "n_outcomes": 1, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "To monitor and promote market integrity and consumer protection in the Australian financial system", "official_site_url": "https://asic.gov.au", "source_documents": [ { "type": "annual_report", "title": "Full report (PDF 5.1 MB)", "url": "https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf", "period": "2025", "confidence": "high" }, { "type": "annual_report", "title": "Full report (PDF 6.6 MB)", "url": "https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf", "period": "2023-24", "confidence": "high" }, { "type": "annual_report", "title": "Full report (PDF 4.2 MB)", "url": "https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf", "period": "2022-23", "confidence": "high" }, { "type": "annual_report", "title": "Full report (PDF 3.8 MB)", "url": "https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf", "period": "2021-22", "confidence": "high" }, { "type": "annual_report", "title": "Full report (PDF 4.5 MB)", "url": "https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf", "period": "2020-21", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2025-26 - (PDF 3.2 MB)", "url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "period": "2025-26", "confidence": "high" }, { "type": "corporate_plan", "title": "ASIC Corporate Plan 2024-25 (PDF 12.5 MB)", "url": "https://download.asic.gov.au/media/1t4gbqvs/asic-corporate-plan-2024-25-published-22-august-2024.pdf", "period": "2024-25", "confidence": "high" }, { "type": "corporate_plan", "title": "ASIC Corporate Plan 2023-27 (Focus 2023-24) - (PDF 4.5 MB)", "url": "https://download.asic.gov.au/media/2cshqbxb/asic-corporate-plan-2023-27-focus-2023-24-published-28-august-2023.pdf", "period": "2023-24", "confidence": "high" }, { "type": "corporate_plan", "title": "ASIC Corporate Plan 2022-26 (Focus 2022-23) - (PDF 2 MB)", "url": "https://download.asic.gov.au/media/v3vhdqiw/asic-corporate-plan-2022-26-focus-2022-23-published-22-august-2022.pdf", "period": "2022-23", "confidence": "high" }, { "type": "corporate_plan", "title": "ASIC Corporate Plan 2021-25 - Focus 2021-22 - (PDF 1.25MB)", "url": "https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf", "period": "2021-22", "confidence": "high" }, { "type": "strategie", "title": "ASIC's Strategic Outlook 2014-15 - (PDF 1.4MB)", "url": "https://download.asic.gov.au/media/2195181/asic-strategic-outlook-2014-2015.pdf", "period": "2014-15", "confidence": "medium" } ], "purpose": { "text": "To monitor and promote market integrity and consumer protection in the Australian financial system", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 7, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=7" }, "vision": { "text": "A fair, strong and efficient financial system for all Australians", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 11, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=11" }, "strategic_priorities": [ { "title": "Improve Drive better outcomes for consumers and small business, with a focus on: credit and financial hardship, dispute ", "description": "Improve Drive better outcomes for consumers and small business, with a focus on: credit and financial hardship, dispute resolution, scams, insurance, and trusted financial education through ASIC’s Moneysmart", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 14, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=14" }, { "title": "Support better Drive better outcomes for Australians planning for and in retirement, with a focus on: superannuation mem", "description": "Support better Drive better outcomes for Australians planning for and in retirement, with a focus on: superannuation member services, retirement outcomes, and exploitation of superannuation savings", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 18, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=18" }, { "title": "Strengthen market disclosure and professional conduct by ASIC-regulated professionals, with a focus on: financial report", "description": "Strengthen market disclosure and professional conduct by ASIC-regulated professionals, with a focus on: financial reporting, climate reporting, auditors, and director conduct", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 19, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=19" }, { "title": "Advance digital and data resilience and safety across markets", "description": "Advance digital and data resilience and safety across markets", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 20, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=20" }, { "title": "Drive consistency and transparency across markets and products", "description": "Drive consistency and transparency across markets and products", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 20, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=20" } ], "values": [ { "name": "Monitor and promote market integrity and consumer protection", "description": "", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": null }, { "name": "Enforce the law effectively and with minimal procedural requirements", "description": "", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": null }, { "name": "Promote confident and informed participation of investors and consumers in the financial system", "description": "", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": null }, { "name": "Take whatever action we can, and which is necessary, to enforce and give effect to the law", "description": "", "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": null } ], "outcomes": [ { "name": "Outcome 1: Improved confidence in Australia’s financial markets through promoting informed investors and financial consumers, facilitating fair and efficient markets and delivering efficient registry systems", "description": "ASIC operates under one outcome statement.", "activities": [ "Enforcement and Regulation", "Registry", "Engagement and Unclaimed money" ], "source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "source_page": 12, "source_deep_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=12" } ], "performance_measures": [ { "code": "3.1", "measure": "Percentage of company and business name registration applications determined within target", "target": "Equal to or greater than 90% of applications determined within target", "latest_result": "N/A", "status": "Not achieved", "target_source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "target_source_page": 29, "result_source_url": "https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf", "result_source_page": 261 }, { "code": "3.2", "measure": "Percentage of AFS licence applications determined within target", "target": "70% within 150 days, and 90% within 240 days, of receiving a complete application", "latest_result": "N/A", "status": "Not achieved", "target_source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "target_source_page": 29, "result_source_url": "https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf", "result_source_page": 261 }, { "code": "4.1", "measure": "Number of visits to ASIC’s Moneysmart website", "target": "Establish a baseline in 2025–26", "latest_result": "11.7m", "status": "Achieved", "target_source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "target_source_page": 30, "result_source_url": "https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf", "result_source_page": 261 }, { "code": "5.1", "measure": "Percentage of refunds of unclaimed money paid to successful claimants", "target": "Equal to or greater than 80% of unclaimed money applications completed within 60 days", "latest_result": "Equal to or greater than 80% of unclaimed money applications completed within 60 days", "status": "Achieved", "target_source_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf", "target_source_page": 30, "result_source_url": "https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf", "result_source_page": 261 } ], "document_alignment_terms": { "must_support": [ "To monitor and promote market integrity and consumer protection in the Australian financial system", "A fair, strong and efficient financial system for all Australians", "Improve Drive better outcomes for consumers and small business, with a focus on: credit and financial hardship, dispute resolution, scams, insurance, and trusted financial education through ASIC’s Moneysmart", "Support better Drive better outcomes for Australians planning for and in retirement, with a focus on: superannuation member services, retirement outcomes, and exploitation of superannuation savings", "Strengthen market disclosure and professional conduct by ASIC-regulated professionals, with a focus on: financial reporting, climate reporting, auditors, and director conduct", "Advance digital and data resilience and safety across markets", "Drive consistency and transparency across markets and products" ], "watch_terms": [ "Percentage of company and business name registration applications determined within target", "Percentage of AFS licence applications determined within target", "Number of visits to ASIC’s Moneysmart website", "Percentage of refunds of unclaimed money paid to successful claimants" ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "strategy_brief_md": "# Australian Securities and Investments Commission — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Annual Report**: [2024-25](https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)\n**Corporate Plan**: [2025-26](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf)\n\n## Vision\n\n> A fair, strong and efficient financial system for all Australians [[CP p.11](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=11)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=11)]\n\n## Our purpose / purposes\n\n> To monitor and promote market integrity and consumer protection in the Australian financial system [[CP p.7](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=7)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=7)]\n\n## How we deliver\n\n> We achieve this through our key activities: Enforcement and compliance, Regulation and supervision, Registry and licensing, Engagement and education, Unclaimed money [[CP p.7](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=7)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=7)]\n\n## Government priorities for this department\n\n- Improve Drive better outcomes for consumers and small business, with a focus on: credit and financial hardship, dispute resolution, scams, insurance, and trusted financial education through ASIC’s Moneysmart [[CP p.14](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=14)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=14)]\n- Support better Drive better outcomes for Australians planning for and in retirement, with a focus on: superannuation member services, retirement outcomes, and exploitation of superannuation savings [[CP p.18](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=18)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=18)]\n- Strengthen market disclosure and professional conduct by ASIC-regulated professionals, with a focus on: financial reporting, climate reporting, auditors, and director conduct [[CP p.19](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=19)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=19)]\n- Advance digital and data resilience and safety across markets [[CP p.20](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=20)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=20)]\n- Drive consistency and transparency across markets and products [[CP p.20](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=20)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=20)]\n\n## Outcomes\n\n### Outcome 1: Improved confidence in Australia’s financial markets through promoting informed investors and financial consumers, facilitating fair and efficient markets and delivering efficient registry systems\nASIC operates under one outcome statement. [[CP p.12](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=12)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=12)]\n\n**Key activities:**\n- Enforcement and Regulation\n- Registry\n- Engagement and Unclaimed money\n\n## Values and principles\n\n_None_\n\n- Monitor and promote market integrity and consumer protection\n- Enforce the law effectively and with minimal procedural requirements\n- Promote confident and informed participation of investors and consumers in the financial system\n- Take whatever action we can, and which is necessary, to enforce and give effect to the law\n\n## What they will measure themselves on this year (targets from 2025-26 corporate plan)\n\n| Code | Measure | Target | Source |\n|---|---|---|---|\n| 3.1 | Percentage of company and business name registration applications determined within target | Equal to or greater than 90% of applications determined within target | [CP p.29](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=29)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=29) |\n| 3.2 | Percentage of AFS licence applications determined within target | 70% within 150 days, and 90% within 240 days, of receiving a complete application | [CP p.29](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=29)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=29) |\n| 4.1 | Number of visits to ASIC’s Moneysmart website | Establish a baseline in 2025–26 | [CP p.30](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=30)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=30) |\n| 5.1 | Percentage of refunds of unclaimed money paid to successful claimants | Equal to or greater than 80% of unclaimed money applications completed within 60 days | [CP p.30](https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=30)(https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf#page=30) |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| 3.1 | Percentage of company and business name registration applications determined within target | N/A | Not achieved | [AR p.261](https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261)(https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261) |\n| 3.2 | Percentage of AFS licence applications determined within target | N/A | Not achieved | [AR p.261](https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261)(https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261) |\n| 4.1 | Number of visits to ASIC’s Moneysmart website | 11.7m | Achieved | [AR p.261](https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261)(https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261) |\n| 5.1 | Percentage of refunds of unclaimed money paid to successful claimants | Equal to or greater than 80% of unclaimed money applications completed within 60 days | Achieved | [AR p.261](https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261)(https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf#page=261) |", "strategy_overview_evidence_md": null, "internal_strategy_evidence_md": "# Australian Securities and Investments Commission - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T21:50:01.466732+00:00\n**Entity ID**: O-000933\n**Entity type**: Non-corporate Commonwealth Entity\n**Jurisdiction**: Commonwealth\n**Portfolio**: Treasury\n**Website**: https://asic.gov.au\n\n> Draft generated from scraped source material. Treat this as an evidence pack for editorial review, not a final judgement.\n\n## Source Coverage\n\n| Source type | Count |\n|---|---:|\n| annual-reports | 5 |\n| corporate-plans | 5 |\n| global-intelligence | 4 |\n| other-pdfs | 5 |\n| pages | 13 |\n| strategies | 1 |\n\n## Executive Readout\n\n### Purpose\n\n- [Page 4]\nContents\n1 ASIC’s role 05 3 ASIC’s achievements by sector 73\nChair’s report 06 Industry funding 74\n1.1 ASIC’s role and responsibilities 09 3.1 Deposit‑taking and credit 75\n1.2 ASIC’s structure and 3.2 Insurance 81\nmanagement 11\n3.3 Financial advice 85\n1.3 Government priorities 22\n3.4 Investment management,\n1.4 Financial summary 27 superannuation and\nrelated services 88\n2 ASIC’s annual performance 3.5 Market infrastructure 92\nstatement 29 3.6 Market intermediaries 95\nChair’s statement 30\n3.7 Corporate 99\nOur purpose 30\n3.8 Large financial institutions 109\n2.1 Performance objectives 30\n2.2 Key results 31 4 ASIC’s people 111\n2.3 ASIC Service Charter results 37 4.1 Workforce planning 112\n2.4 Analysis: Implementing our 4.2 Diversity and inclusion at ASIC 115\nperformance objectives 40\n2.5 Registry services and outcomes 68 5 Financial Statements 119\n2.6 Unclaimed money 72\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [Page 31]\n2\nASIC’s annual\nperformance statement\nChair’s statement 30\nOur purpose 30\n2.1 Performance objectives 30\n2.2 Key results 31\n2.3 ASIC Service Charter results 37\n2.4 Analysis: Implementing our\nperformance objectives 40\n2.5 Registry services and outcomes 68\n2.6 Unclaimed money 72\nASIC’s annual performance statement 29\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [Page 4]\nContents\n1 ASIC’s role 05 3 ASIC’s achievements by sector 67\nChair’s report 06 Industry funding 68\n1.1 ASIC’s role and responsibilities 09 3.1 Deposit‑taking and credit 69\n1.2 ASIC’s structure and 3.2 Insurance 72\nmanagement 11\n3.3 Financial advice 76\n1.3 Key projects 22\n3.4 Investment management,\n1.4 Financial summary 25 superannuation and\nrelated services 80\n2 ASIC’s annual performance 3.5 Market infrastructure 86\nstatement 27 3.6 Market intermediaries 90\nChair’s statement 28\n3.7 Corporate 93\nOur purpose 28\n3.8 Large financial institutions 101\n2.1 Performance objectives 28\n2.2 Key results 29 4 ASIC engagement\n2.3 ASIC Service Charter results 34 and education 103\n4.1 Engagement 104\n2.4 Analysis: Implementing our\nperformance objectives 37 4.2 Education 130\n2.5 Registry services and outcomes 63\n2.6 Unclaimed money 66 5 ASIC’s people 133\n5.1 Workforce planning 134\n5.\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- [Page 29]\n2\nASIC’s annual\nperformance statement\nChair’s statement 28\nOur purpose 28\n2.1 Performance objectives 28\n2.2 Key results 29\n2.3 ASIC Service Charter results 34\n2.4 Analysis: Implementing our\nperformance objectives 37\n2.5 Registry services and outcomes 63\n2.6 Unclaimed money 66\nASIC’s annual performance statement 27\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n\n### Role and Functions\n\n- [Page 4]\nContents\n1 YEAR IN REVIEW 4\nThe year at a glance 5\nChair’s report 6\nOur work in action 10\nOur business transformation 12\nFinancial summary 13\n2 AGENCY OVERVIEW 16\nWho we are and what we do 17\nOur Commission 18\nOur role and responsibilities 20\nOur organisation 23\n3 ANNUAL PERFORMANCE STATEMENT 24\nStatement of preparation 25\nPerformance objectives 25\nWhat we set out to do in 2023–24 26\nActivity overview 29\nCore strategic projects 34\nStrategic work across our regulated sectors 43\nOutcomes across our regulatory functions 84\nASIC Service Charter results 104\nUnclaimed money 107\nPrinciples of regulator best practice 109\n4 ASIC’S STRUCTURE AND MANAGEMENT 110\nOur governance 111\nOur organisational structure 116\n© A S I C | A N N U A L R E P O R T 2 0 2 3 – 24 2\n Source: `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)`\n- [Page 72]\nAnalysis of key registry The following milestones were achieved\nduring the 2020–21 financial year:\noutcomes\n› the Government committed to an\nKey outcomes achieved by ASIC’s registry investment of $419.9 million to enable\nin 2020–21 are set out below. the full implementation of the MBR\nprogram through the Digital Business\nPlan within the 2020 Federal Budget\nModernising business registers\n› the Commissioner of Taxation was\nOver the course of the year, ASIC appointed as Registrar on 4 April 2021\ncontinued supporting Treasury and the › in an MoG change, 221 ASIC registry\nATO with the MBR program. staff transitioned to the ATO on\n15 April 2021 to support the functions\nIn the 2018–19 Budget, the Government\nof the Registrar.\nannounced its commitment to the\nmodernisation of 31 ASIC registers, The Registrar’s role is to lead and\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [Page 18]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENT\nC H A P T E R 0 2\nA G E N C Y\nO V E R V I E W\n02\nI N TH I S CH A P TE R\n> Who we are and what we do\n> Our Commission\n> Our role and responsibilities\n> Our organisation\n© A S I C | A N N U A L R E P O R T 2 0 2 3 - 24 16 A G E N C Y O V E R V I E W\n Source: `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)`\n- [Page 4]\nContents\nYEAR IN REVIEW 4\nThe year at a glance 5\nChair’s report 6\nOur work in action 10\nFinancial summary 12\nAGENCY OVERVIEW 14\nWho we are and what we do 15\nOur role and responsibilities 16\nOur Commission 19\nOur organisation 21\nANNUAL PERFORMANCE STATEMENTS 22\nStatement of preparation 23\nPerformance statements overview 23\nWhat we set out to do in 2024–25 25\nWork guided by our strategic priorities 26\nSimpler and better regulation 66\nOutcomes across our key activities 69\nKey activity metrics 92\nStrategic work across our regulated sectors 97\nOperational capabilities 109\nPrinciples of regulator best practice 114\nASIC’S STRUCTURE AND MANAGEMENT 116\nASIC’s governance 117\nASIC’s organisational structure 122\n© A S I C | A N N U A L R E P O R T 2 0 24 – 2 5 2\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [Page 16]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENT\nC H A P T E R 0 2\nA G E N C Y\nO V E R V I E W\n02\nI N T H I S C H A P T E R\n> Who we are and what we do\n> Our role and responsibilities\n> Our Commission\n> Our organisation\n© A S I C | A N N U A L R E P O R T 2 0 24 - 2 5 14 A G E N C Y O V E R V I E W\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [pages 1,2,3,4]\n[Page 1]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENT\nC H A P T E R 0 2\nA G E N C Y\nO V E R V I E W\n02\nI N T H I S C H A P T E R\n> Who we are and what we do\n> Our role and responsibilities\n> Our Commission\n> Our organisation\n© A S I C | A N N U A L R E P O R T 2 0 24 - 2 5 14 A G E N C Y O V E R V I E W\n Source: `other-pdfs/asic-2025-annual-report-ch-2-agency-overview.pdf (https://download.asic.gov.au/media/3szc4q04/asic-2025-annual-report-ch-2-agency-overview.pdf)`\n\n### Strategic Priorities\n\n- W H A T W E ’ L L D O I N 2 0 2 4 – 2 5\nA N D B E Y O N D 1 2\nOur 2024–28 plan 13\nOperating context 14\nStrategic priorities 16\nOther key activities 22\nOperational capabilities 24\n3 .\n Source: `corporate-plans/2024-25.pdf (https://download.asic.gov.au/media/1t4gbqvs/asic-corporate-plan-2024-25-published-22-august-2024.pdf)`\n- [Page 29]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENT 04 ASIC’S STRUC TURE 05 ASIC’S PEOPLE 06 FINANCIAL STATEMENTS\nFigure 2—Key activities in 2023–24\nProgress key strategic projects\nSustainable Crypto Design and Cyber & Digital\nScams\nfinance practices assets distribution operational tech & data\nobligations resilience\nUnderpinned by our strategic priorities\nProduct design Sustainable Retirement Technology\n& distribution finance outcomes risks\nAchieve outcomes across our regulatory functions\n1 2 3 4 5 6 7 8\nAchieve Undertake Provide Assess Provide Engage with Educate Support\nenforcement supervision guidance licence and regulatory consumers consumers accessible\noutcomes & surveillance to industry registration relief and industry to help registers\nusing our to deter or to ensure applications where stakeholders them build to help people\n Source: `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)`\n- [Page 4]\nContents\nYEAR IN REVIEW 4\nThe year at a glance 5\nChair’s report 6\nOur work in action 10\nFinancial summary 12\nAGENCY OVERVIEW 14\nWho we are and what we do 15\nOur role and responsibilities 16\nOur Commission 19\nOur organisation 21\nANNUAL PERFORMANCE STATEMENTS 22\nStatement of preparation 23\nPerformance statements overview 23\nWhat we set out to do in 2024–25 25\nWork guided by our strategic priorities 26\nSimpler and better regulation 66\nOutcomes across our key activities 69\nKey activity metrics 92\nStrategic work across our regulated sectors 97\nOperational capabilities 109\nPrinciples of regulator best practice 114\nASIC’S STRUCTURE AND MANAGEMENT 116\nASIC’s governance 117\nASIC’s organisational structure 122\n© A S I C | A N N U A L R E P O R T 2 0 24 – 2 5 2\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [Page 24]\n0011 YYEE AARR IINN RREEVVIIEEWW 0022 AAGGEENNCCYY OOVVEERRVVIIEEWW 0033 PPEERRFFOORRMMAANNCCEE SSTTAATTEEMMEENNTTS2\nC H A P T E R 0 3\nA N N U A L\nP E R F O R M A N C E\nS T A T E M E N T S\n03\nI N T H I S C H A P T E R\n> Statement of preparation > Outcomes across our key activities\n> Performance statements overview > Strategic work across our regulated sectors\n> What we set out to do in 2024–25 > Operational capabilities\n> Work guided by our strategic priorities > Principles of regulator best practice\n> Simpler and better regulation\n© A S I C | A N N U A L R E P O R T 2 0 24 – 2 5 2 2 A N N U A L P E R F O R M A N C E S TAT E M E N T S\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [Page 28]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENTS\nWork guided by our\nstrategic priorities\nOur 2024–25 Corporate Plan outlined our strategic priorities and the\nfocus areas that underpin our key activities.\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [pages 1,2,3,4,5]\n[Page 1]\n0011 YYEE AARR IINN RREEVVIIEEWW 0022 AAGGEENNCCYY OOVVEERRVVIIEEWW 0033 PPEERRFFOORRMMAANNCCEE SSTTAATTEEMMEENNTTS2\nC H A P T E R 0 3\nA N N U A L\nP E R F O R M A N C E\nS T A T E M E N T S\n03\nI N T H I S C H A P T E R\n> Statement of preparation > Outcomes across our key activities\n> Performance statements overview > Strategic work across our regulated sectors\n> What we set out to do in 2024–25 > Operational capabilities\n> Work guided by our strategic priorities > Principles of regulator best practice\n> Simpler and better regulation\n© A S I C | A N N U A L R E P O R T 2 0 24 – 2 5 2 2 A N N U A L P E R F O R M A N C E S TAT E M E N T S\n Source: `other-pdfs/asic-2025-annual-report-ch-3-annual-performance-statements.pdf (https://download.asic.gov.au/media/nyscnm52/asic-2025-annual-report-ch-3-annual-performance-statements.pdf)`\n- [Page 5]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENTS\nWork guided by our\nstrategic priorities\nOur 2024–25 Corporate Plan outlined our strategic priorities and the\nfocus areas that underpin our key activities.\n Source: `other-pdfs/asic-2025-annual-report-ch-3-annual-performance-statements.pdf (https://download.asic.gov.au/media/nyscnm52/asic-2025-annual-report-ch-3-annual-performance-statements.pdf)`\n- [pages 37,38,39,40]\nsumers\nis punished and consumer harm\naddressed are met\nWhere consumers suffer loss as\na result of misconduct, culpable\nentities compensate those consumers\nappropriately\nRegulatory We take successful enforcement or Operational data (e.g. number of surveillance and\nother regulatory action in response to enforcement actions undertaken and results achieved)\nidentified misconduct\nPublic outcomes (e.g. civil, criminal and administrative\nWe appropriately sanction individuals actions taken, including bannings)\nwho commit misconduct including,\nwhen warranted, banning them from\nproviding financial services or taking\ncivil or criminal action against them\nConsistent with our strategic priorities,\nour regulatory actions address key\ndrivers of harm to consumers and\nmarkets\n36 ASIC Corporate Plan 2021–25\n Source: `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)`\n- [Page 2]\nCONTENTS\nMessage from the Chair 2\nAt a glance: Our strategic priorities and actions 4\nOur statutory objectives 5\nRegulatory environment 6\nStrategic priorities 7\nActions 8\nCore strategic projects 8\nOther strategic work 13\nOngoing regulatory work 17\nCapabilities 19\nGovernance and risk 22\nMeasuring and evaluating our performance 26\nOur Corporate Plan\nThis corporate plan covers the period from 2022–23 to 2025–26.\n Source: `corporate-plans/2022-23.pdf (https://download.asic.gov.au/media/v3vhdqiw/asic-corporate-plan-2022-26-focus-2022-23-published-22-august-2022.pdf)`\n- [Page 3]\nCONTENTS\nMessage from the Chair 2\nOur vision and what we do 4\nRegulatory environment 6\nOur strategic priorities and projects 7\nCapabilities 16\nBudget, governance and risk 19\nMeasuring and evaluating our performance 22\n Source: `corporate-plans/2023-24.pdf (https://download.asic.gov.au/media/2cshqbxb/asic-corporate-plan-2023-27-focus-2023-24-published-28-august-2023.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- Results key\nA N N UA L PE R FO R M A N CE S TATE M E NT S R E SU LT PE R FO R M A N CE M E A SU R E R E SU LT\nAchieved Meets or exceeds target\nNot achieved Does not meet target\nN/A No result / Baseline year\nPerformance measure obligations\nThe following table provides supporting information underpinning our performance measurement\nframework.\n Source: `corporate-plans/2025-26.pdf (https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf)`\n- Table 2.3.1 ASIC Service Charter performance 2020–21\nService Measure Target Result\nWhen you contact us\nGeneral telephone We aim to answer telephone queries 80% 90%\nqueries on the spot\nGeneral email queries We aim to reply to email queries 90% 98%\nwithin three business days\nGive reasonable assistance\nSearching company, We aim to ensure that our online 99.5% 100%\nbusiness name or other search service is available between\ndata online 8.30 am and 7.00 pm AEST Monday\nto Friday, excluding public holidays\nLodging company, We aim to ensure that you can 99.5% 100%\nbusiness name or other lodge registration forms and other\ndata online information online between 8.30 am\nand 7.00 pm AEST Monday to Friday,\nexcluding public holidays\nWhen you do business with us\nRegistering a company We aim to register the company or 90% 100%\nor business name business name within one business\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [Page 40]\nService Measure Target Result\nRegistering a business For paper applications lodged by 90% 100%\nname via paper mail – complete applications for\napplication business name registrations within\nseven business days\nUpdating company, For applications lodged online 90% 100%\nbusiness name or – enter critical information and\nother ASIC register status changes to company or\ninformation online business name registers within one\nbusiness day\nUpdating company, For paper applications lodged by 90% 94%\nbusiness name or mail – enter critical information\nother ASIC register and status changes to company or\ninformation via paper business name registers within five\napplication business days\nRegistering as an We aim to decide whether to 80% 92%\nauditor register an auditor within 28 days of\nreceiving a complete application\nRegistering a managed By law, we must register a managed 100% 100%\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [Page 41]\nService Measure Target Result\nApplying for relief17 We aim to give an in‑principle 70% 66%\ndecision within 28 days of receiving\nall necessary information and fees\nfor applications for relief from\nthe Corporations Act that do not\nraise new issues\nWe aim to give an in‑principle 90% 85%\ndecision within 90 days of receiving\nall necessary information and fees\nfor applications for relief from\nthe Corporations Act that do not\nraise new issues\nComplaints about If someone reports alleged 70% 73%\nmisconduct by a misconduct by a company or an\ncompany or individual individual, ASIC aims to respond\nwithin 28 days of receiving all\nrelevant information\nWhen you have complaints about us\nAbout ASIC officers, We aim to acknowledge receipt of 70% Resolved\nservices or actions complaints within three working within 28\ndays of receipt.\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- Table 2.3.1 sets out our\nTable 2.3.1 ASIC Service Charter performance 2021–22\nService Measure Target Result\nWhen you contact us\nGeneral telephone We aim to answer telephone queries on 80% 89.8%\nqueries the spot\nGeneral email We aim to reply to email queries within 90% 99.5%\nqueries three business days\nGive reasonable assistance\nSearching company, We aim to ensure that our online search 99.5% 100%\nbusiness name or service is available between 8.30 am\nother data online and 7.00 pm AEST Monday to Friday,\nexcluding public holidays\nLodging company, We aim to ensure that you can 99.5% 99.9%\nbusiness name or lodge registration forms and other\nother data online information online between 8.30 am\nand 7.00 pm AEST Monday to Friday,\nexcluding public holidays\nWhen you do business with us\nRegistering a We aim to register the company or 90% 99.3%\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- [Page 37]\nService Measure Target Result\nRegistering a For paper applications lodged by mail 90% 100.0%\nbusiness name via – complete applications for business\npaper application name registrations within seven\nbusiness days\nUpdating company, For applications lodged online – enter 90% 99.9%\nbusiness name or critical information and status changes\nother ASIC register to company or business name registers\ninformation online within one business day\nUpdating company, For paper applications lodged by mail 90% 99.9%\nbusiness name or – enter critical information and status\nother ASIC register changes to company or business name\ninformation via paper registers within five business days\napplication\nRegistering as an We aim to decide whether to register 80% 89%\nauditor an auditor within 28 days of receiving a\ncomplete application\nRegistering a By law, we must register a managed 100% 100%\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- [Page 38]\nService Measure Target Result\nWe aim to give an in‑principle decision 90% 88%\nwithin 90 days of receiving all necessary\ninformation and fees for applications\nfor relief from the Corporations Act\nComplaints about If someone reports alleged misconduct 70% 65%\nmisconduct by by a company or individual, ASIC aims\na company or to respond within 28 days of receiving\nindividual all relevant information\nWhen you have complaints about us\nAbout ASIC officers, We aim to resolve a complaint within 70% 91%\nservices or actions 28 days\n36 ASIC Annual Report 2021–22\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- This includes a number outlined in the Service Charter for the\nof interactions through services provided 2022–23 financial year.\nby the ATO and ABRS on behalf of ASIC\nTable 2.7.1 ASIC Service Charter performance 2022–23\nService Measure Target Result\nWhen you contact us\nGeneral telephone We aim to answer telephone\nqueries queries on the spot 80% 89.1%\nGeneral email queries We aim to reply to email queries\nwithin three business days 90% 99.9%\nGive reasonable assistance\nSearching company, We aim to ensure that our online\nbusiness name or other search service is available between\ndata online 8.30 am and 7.00 pm AEST Monday\nto Friday, excluding public holidays 99.5% 100.0%\nLodging company, We aim to ensure that you can\nbusiness name or other lodge registration forms and other\ndata online information online between 8.30 am\nand 7.00 pm AEST Monday to\nFriday, excluding public holidays 99.5% 99.\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n- [Page 92]\nService Measure Target Result\nRegistering a business For paper applications lodged by\nname via paper mail – complete applications for\napplication business name registrations within\nseven business days 90% 94.1%\nUpdating company, For applications lodged online\nbusiness name or other – enter critical information and\nASIC register information status changes to company or\nonline business name registers within one\nbusiness day 90% 99.9%\nUpdating company, For paper applications lodged\nbusiness name or other by mail, enter critical information\nASIC register information and status changes to company or\nvia paper application business name registers within five\nbusiness days 90% 92.3%\nRegistering as an auditor We aim to decide whether to\nregister an auditor within 28 days of\nreceiving a complete application 80% 80%\nRegistering a managed By law, we must register a managed\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n- [Page 93]\nService Measure Target Result\nApplying for relief We aim to give an in principle\ndecision within 28 days of receiving\nall necessary information and fees\nfor applications for relief from the\nCorporations Act 70% 81%\nWe aim to give an in principle\ndecision within 90 days of receiving\nall necessary information and fees\nfor applications for relief from the\nCorporations Act 90% 94%\nComplaints about If someone reports alleged\nmisconduct by a company misconduct by a company or\nor individual individual, ASIC aims to respond\nwithin 28 days of receiving all\nrelevant information 70% 72%\nWhen you have complaints about us\nAbout ASIC officers, We aim to resolve a complaint\nservices or actions within 28 days 70% 97%\nASIC’s annual performance statement 91\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n- [pages 37,38,39,40]\nsumers\nis punished and consumer harm\naddressed are met\nWhere consumers suffer loss as\na result of misconduct, culpable\nentities compensate those consumers\nappropriately\nRegulatory We take successful enforcement or Operational data (e.g. number of surveillance and\nother regulatory action in response to enforcement actions undertaken and results achieved)\nidentified misconduct\nPublic outcomes (e.g. civil, criminal and administrative\nWe appropriately sanction individuals actions taken, including bannings)\nwho commit misconduct including,\nwhen warranted, banning them from\nproviding financial services or taking\ncivil or criminal action against them\nConsistent with our strategic priorities,\nour regulatory actions address key\ndrivers of harm to consumers and\nmarkets\n36 ASIC Corporate Plan 2021–25\n Source: `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)`\n- Australian Workplace Equality Index\n› increasing our First Nations workforce\nto 1.77% (1.63% last year) Equitable gender briefing\n› developing a new ‘Lunch & Learn’\nsession – Recruiting for Diverse In 2021–22, ASIC exceeded all targets for\nPerspectives, designed to build both junior and senior female barristers.\nthe capability of our people to lead For junior female barristers, where the\nin an inclusive way by engaging target is 30%, we achieved 45% on the\nwith difference value of briefs and 61% on the number\nof briefs.\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- [pages 139,140,141]\n2021–22, ASIC exceeded all targets for\nPerspectives, designed to build both junior and senior female barristers.\nthe capability of our people to lead For junior female barristers, where the\nin an inclusive way by engaging target is 30%, we achieved 45% on the\nwith difference value of briefs and 61% on the number\nof briefs.\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- [Page 73]\nOngoing surveillance activities in As a result of this surveillance work,\nbetween 1 July 2022 and 31 March 2023,\nrelation to sustainable finance\nwe achieved 23 corrective disclosure\nSince publishing Information Sheet 27133 outcomes, securing changes or additional\nHow to avoid greenwashing when offering disclosure to prevent harm to investors,\nor promoting sustainability‑related consumers and market integrity, and to\nproducts in June 2022, we have deter greenwashing misconduct.\nundertaken reactive and proactive\nsurveillance in relation to greenwashing.\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n\n## Key Metrics\n\n| Values found | Evidence | Source |\n|---|---|---|\n| $12 million, $31 million, $17 million, $23 million, $13 million, 12 million | [Page 16]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENT 04 ASIC’S STRUC TURE 05 ASIC’S PEOPLE 06 FINANCIAL STATEMENTS\nOperational result\nIn 2023–24, ASIC reported a surplus of ♦ appropriation revenue of $12 million for\n$31 million, which was the result of several capital projects, with expenditure reflected on\nfactors, including: the balance sheet.\n♦ project delays relating to the time to scope These items are offset in part by w | `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)` |\n| $1,835 million, $426 million, $55 million, $4 million, 1,835 million, 426 million | In 2022–23, ASIC collected $1,835 million\nfor the Commonwealth in fees, charges\nThe increase in total expenses relates to:\nand supervisory cost recovery levies, an\nincrease of 9% from the 2021–22 year. › an increase in wages and salary\nexpenses due to projects being\ndelivered as operating costs and\nRevenue, appropriations the transfer of costs from the\nand expenditure work‑in‑progress accounts to employee\nexpenses relating to software\nIn 2022–23, | `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)` |\n| $000, $466,290 | [Page 30]\nASIC’s 2021–22 budget\n2020–21 2021–22 2022–23 2023–24 2024–25\nEstimated Budget Forward Forward Forward\nActual ($000s) estimate estimate estimate\n($000s) ($000s) ($000s) ($000s)\nOperating expenditure funded by: $466,290 $439,940 $416,326 $415,984 $415,834\nDepartmental appropriation $441,235 $423,034 $408,541 $409,630 $410,085\nRevenue from independent sources $25,055 $16,906 $7,785 $6,354 $5,749\nCapital appropriations $27,760 $22,627 $22, | `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)` |\n| $000, $474,367 | ASIC’s 2022–23 budget\n2021–22 2022–23 2023–24 2024–25 2025–26\nEstimated Budget Forward Forward Forward\nactual estimate estimate estimate\n($000s) ($000s) ($000s) ($000s) ($000s)\nOperating expenditure funded by: $474,367 $422,942 $420,348 $422,534 $424,105\nDepartmental appropriation $422,001 $413,920 $414,599 $416,785 $418,356\nRevenue from independent sources $52,366 $9,022 $5,749 $5,749 $5,749\nCapital appropriations $29,074 $23,577 $22,256 $23,244 | `corporate-plans/2022-23.pdf (https://download.asic.gov.au/media/v3vhdqiw/asic-corporate-plan-2022-26-focus-2022-23-published-22-august-2022.pdf)` |\n| $422,534 , $424,105\n, $422,001 , $413,920 , $414,599 , $416,785 | [pages 24,25,26]\n48 $422,534 $424,105\nDepartmental appropriation $422,001 $413,920 $414,599 $416,785 $418,356\nRevenue from independent sources $52,366 $9,022 $5,749 $5,749 $5,749\nCapital appropriations $29,074 $23,577 $22,256 $23,244 $22,579\nTotal budgeted resources $503,441 $446,519 $442,604 $445,778 $446,684\nSource: Portfolio Budget Statements 2022–23\nProportion of 2022–23 estimated regulatory effort by activity\n0.5%\nRegistry\n0.2%\n4.7% Educatio | `corporate-plans/2022-23.pdf (https://download.asic.gov.au/media/v3vhdqiw/asic-corporate-plan-2022-26-focus-2022-23-published-22-august-2022.pdf)` |\n| $000 | ASIC’s 2023–24 budget\n2022–23 2023–24 2024–25 2025–26 2026–27\nEstimated Budget Forward Forward Forward\nactual ($000s) estimate estimate estimate\n($000s) ($000s) ($000s) ($000s)\nOperating expenditure funded by: 458,697 457,557 444,217 446,137 451,750\nDepartmental appropriation 426,323 433,678 438,138 440,058 445,671\nRevenue from independent sources 32,374 23,879 6,079 6,079 6,079\nCapital appropriations 26,882 23,692 20,160 26,011 23,780\nTotal budg | `corporate-plans/2023-24.pdf (https://download.asic.gov.au/media/2cshqbxb/asic-corporate-plan-2023-27-focus-2023-24-published-28-august-2023.pdf)` |\n| $419.9 million, 419.9 million | [Page 72]\nAnalysis of key registry The following milestones were achieved\nduring the 2020–21 financial year:\noutcomes\n› the Government committed to an\nKey outcomes achieved by ASIC’s registry investment of $419.9 million to enable\nin 2020–21 are set out below. the full implementation of the MBR\nprogram through the Digital Business\nPlan within the 2020 Federal Budget\nModernising business registers\n› the Commissioner of Taxation was\nOver the course | `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)` |\n| $45.538 million, 45.538 million | [Page 173]\nAdministered Schedule of Assets and Liabilities\nOriginal\nActual Budget Variance\n2023 2023 2023\n$’000 $’000 $’000\nASSETS\nFinancial assets\nCash and cash equivalents 1,646 1,380 266\nSupervisory cost recovery levies receivable 359,977 302,137 57,840\nFees and fines receivable 239,098 183,934 55,164\nTrade and other receivables 10,427 14,024 (3,597)\nTotal assets administered on behalf of Government 611,148 501,475 109,673\nLIABILITIES\nPayables | `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)` |\n| $423 million, 423 million | Our\nensure our actions and achievements have a real departmental operating appropriation for 2021–22\nand tangible impact. is $423 million, down 4% due to reduced funding\nfollowing the partial transfer of the registry function\n› Improving our infrastructure and systems to\nto the ATO.\nstrengthen our key internal operations, processes\nand governance frameworks to effectively support We take a strategic approach to the allocation of our\nour regulator | `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)` |\n| $26.259 million, $9.945 million, 26.259 million, 9.945 million | Administered revenues, expenses,\nThe net effect of the restatement was\nassets, liabilities and cash flows\nan adjustment of $26.259 million against\nare disclosed in the Administered\nthe 2021–22 Surplus/(Deficit) and an\nSchedules and related notes.\nadjustment $9.945 million related to\n2020–21 and prior years which has\nbeen reflected as an opening balance\nExcept where otherwise stated,\nadjustment in retained earnings. | `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)` |\n| $4.669 million, 4.669 million | [Page 147]\nAppropriation\napplied in 2022\nAnnual Annual Adjustments to Total (current and\nappropriations appropriation appropriation1,2 appropriation prior years) Variance3\nfor 2022 $’000 $’000 $’000 $’000 $’000\nDepartmental\nOrdinary annual\nservices 426,670 103,394 530,064 512,877 17,187\nCapital budget4 25,544 – 25,544 23,588 1,956\nOther services\nEquity injections 3,530 – 3,530 5,518 (1,988)\nTotal departmental 455,744 103,394 559,138 541,983 17,15 | `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)` |\n\n## Key Achievements\n\n- ASIC will be tracking\nNetwork was recognised at the ASIC approximately 80 data points over 50\nAwards 2022 and received an Outstanding substantive commitments in the next RAP\nOrganisational Achievement Team Award. to understand more clearly the impact\nour Reconciliation activities and initiatives\nThis year, the network delivered on the are having.\nobjectives published in the ASIC Rainbow\nAction Plan 2020–21 and internally During the development phase, ASIC\npublished an Interim Action Plan for 2022. re‑affirmed our commitment to reaching\na 3% First Nations people employment\nThe network delivered ASIC’s Gender target.\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- The\ndecisions through the provision of 2020 and 2021 surveys each asked 1,500+\nconsumer education and information. young Australians (aged 15–21) about their\nexperiences, attitudes and behaviours\nThis work includes:\nacross a range of money‑related topics.\n› consumer education and information, Key findings across the two waves of this\nprimarily delivered through ASIC’s research were:\nMoneysmart website\n› 54% of respondents wanted to learn\n› collaborating with others to understand how to manage money well and not\nand measure the impact of consumer waste it\neducation on financial decision making\n› 57% of respondents wanted to learn\n› supporting ASIC’s supervisory teams to about how to invest, ways to invest,\nstrengthen their consumer‑facing work. types of investments and possible risks\nand returns\nSome key projects completed this year\n› 62% of respondents agreed or strongly\n Source: `annual-reports/2021-22.pdf (https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf)`\n- In 2022–23, ASIC collected $1,835 million\nfor the Commonwealth in fees, charges\nThe increase in total expenses relates to:\nand supervisory cost recovery levies, an\nincrease of 9% from the 2021–22 year. › an increase in wages and salary\nexpenses due to projects being\ndelivered as operating costs and\nRevenue, appropriations the transfer of costs from the\nand expenditure work‑in‑progress accounts to employee\nexpenses relating to software\nIn 2022–23, ASIC received $426 million\ndevelopment costs that were previously\nin operating appropriation revenue from\nrecognised as assets\nthe Australian Government, including\n$55 million for the Enforcement Special › the effect of annual pay rises and\nflow-on effects to employee provisions\nAccount (ESA), representing a $4 million or\n1% increase compared with 2021–22. › an increase in separation and\nredundancy costs compared to the\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n- This section provides narrative and case studies that demonstrate our progress and achievements\nacross each of these priorities.\n© A S I C | A N N U A L R E P O R T 2 0 24 – 2 5 2 6 A N N U A L P E R F O R M A N C E S TAT E M E N T S\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [Page 112]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENTS\n♦ piloting the use of machine learning and registers, and new transactions on our portal that\nAI to increase our capability and efficiency leverage stronger security, prefill functions, and a\nin reviewing and analysing large numbers unified interaction platform.\nof documents, and to more effectively\nIn doing so, we:\ncategorise, prioritise and triage reports of\nmisconduct. ♦ completed the migration of the Professional\nRegister search service to newer technology,\nUsing visualisation and business intelligence using a user-centred design approach to\ntools to identify insights and trends improve customer experience\nIn 2024–25, we expanded our use of visualisation ♦ implemented significant improvements to\nand business intelligence tools across a range our corporate website, including a modern,\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [Page 89]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENTS\n♦ piloting the use of machine learning and registers, and new transactions on our portal that\nAI to increase our capability and efficiency leverage stronger security, prefill functions, and a\nin reviewing and analysing large numbers unified interaction platform.\nof documents, and to more effectively\nIn doing so, we:\ncategorise, prioritise and triage reports of\nmisconduct. ♦ completed the migration of the Professional\nRegister search service to newer technology,\nUsing visualisation and business intelligence using a user-centred design approach to\ntools to identify insights and trends improve customer experience\nIn 2024–25, we expanded our use of visualisation ♦ implemented significant improvements to\nand business intelligence tools across a range our corporate website, including a modern,\n Source: `other-pdfs/asic-2025-annual-report-ch-3-annual-performance-statements.pdf (https://download.asic.gov.au/media/nyscnm52/asic-2025-annual-report-ch-3-annual-performance-statements.pdf)`\n- [pages 6,7,8]\ninsurance, breach reporting, and the design and distribution obligations)\nEnhancing communication and engagement with our stakeholders and other\nregulatory agencies, to ensure our actions and achievements have a real and\ntangible impact\nImproving our infrastructure and systems to strengthen our key internal operations,\nprocesses and governance frameworks to effectively support our regulatory work\nINTERNAL\nPRIORITIES\nEnhancing and effectively utilising our data and cyber resilience capabilities in\nfulfilling our regulatory mandate and organisational priorities\nContinuing to nurture a workplace environment that promotes a culture of speaking\nup, challenge, accountability and a ‘whole-of-ASIC’ lens, underpinned by a sound\nsystem of risk management and compliance\n05 ASIC Corporate Plan 2021–25\n Source: `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)`\n- [Page 13]\nOur 2024–28 plan\nO U R V I S I O N\nA fair, strong and efficient financial system for all Australians\nS T R A T E G I C P R I O R I T I E S\n1 2 3 4 5\nBetter Drive\nAddress Advance\nImprove retirement consistency and\nfinancial digital and data\nconsumer outcomes transparency\nsystem climate resilience\noutcomes and member across markets\nchange risk and safety\nservices and products\nF O C U S A R E A S\n2\nThe design Climate-related Improved services Technology- Outcomes in public\nand distribution of disclosure for superannuation enabled scams and and private\nfinancial products fund members misconduct, and the markets\nGreenwashing\npoor use of artificial\nPredatory sales Driving industry Existing and\nintelligence (AI)\nIntegrity and\nand lending progress towards emerging financial\nfairness in energy\nimproving Business, cyber products and\nFinancial hardship and carbon credit\n Source: `corporate-plans/2024-25.pdf (https://download.asic.gov.au/media/1t4gbqvs/asic-corporate-plan-2024-25-published-22-august-2024.pdf)`\n- Target 2025–26 Equal to or greater than 80% of surveillances delivered within the planned timeframe\nTarget 2026–27 Equal to or greater than 80% of surveillances delivered within the planned timeframe\nTarget 2027–28 Equal to or greater than 80% of surveillances delivered within the planned timeframe\nTarget 2028–29 Equal to or greater than 80% of surveillances delivered within the planned timeframe\nTarget rationale The target reflects a balanced approach to performance that recognises that thematic\nsurveillances address regulatory objectives and strategic priorities, while maintaining\nflexibility to respond to emerging issues and changes to ASIC’s priorities.\n Source: `corporate-plans/2025-26.pdf (https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf)`\n- Target 2025–26 Equal to or greater than 80% of unclaimed money applications completed\nwithin 60 days\nTarget 2026–27 Equal to or greater than 80% of unclaimed money applications completed\nwithin 60 days\nTarget 2027–28 Equal to or greater than 80% of unclaimed money applications completed\nwithin 60 days\nTarget 2028–29 Equal to or greater than 80% of unclaimed money applications completed\nwithin 60 days\nTarget rationale In recent years the volume of claims has considerably increased (in terms of absolute\nnumbers and complex claims).\n Source: `corporate-plans/2025-26.pdf (https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf)`\n- QUA NT I TAT I V E T Y PE B E S T PR AC T I CE\n2.1: Percentage of Yes Quantitative Efficiency Principle 1: Continuous\nthematic surveillances improvement and building trust\ndelivered within the Rationale: Planning improves\nplanned timeframe delivery\nPrinciple 2: Risk based and data\ndriven\nRationale: We target thematic\nreviews by risk\n2.2: Percentage of in- Yes Quantitative Efficiency Principle 1: Continuous\nprinciple decisions made improvement and building trust\non applications for relief Rationale: Predictability builds\nfrom the Corporations trust\nAct following receipt of\nPrinciple 2: Risk based and data\nall necessary information\ndriven\nand fees\nRationale: Relief decisions use risk\nand data inputs\nPrinciple 3: Collaboration and\nengagement\nRationale: Involves engagement\nwith applicants and often tailored\nguidance or consultation\nKey activity 3: Registry and licensing\n Source: `corporate-plans/2025-26.pdf (https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf)`\n- [Page 4]\nContents\n1 ASIC’s role 05 3 ASIC’s achievements by sector 73\nChair’s report 06 Industry funding 74\n1.1 ASIC’s role and responsibilities 09 3.1 Deposit‑taking and credit 75\n1.2 ASIC’s structure and 3.2 Insurance 81\nmanagement 11\n3.3 Financial advice 85\n1.3 Government priorities 22\n3.4 Investment management,\n1.4 Financial summary 27 superannuation and\nrelated services 88\n2 ASIC’s annual performance 3.5 Market infrastructure 92\nstatement 29 3.6 Market intermediaries 95\nChair’s statement 30\n3.7 Corporate 99\nOur purpose 30\n3.8 Large financial institutions 109\n2.1 Performance objectives 30\n2.2 Key results 31 4 ASIC’s people 111\n2.3 ASIC Service Charter results 37 4.1 Workforce planning 112\n2.4 Analysis: Implementing our 4.2 Diversity and inclusion at ASIC 115\nperformance objectives 40\n2.5 Registry services and outcomes 68 5 Financial Statements 119\n2.6 Unclaimed money 72\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n\n## Key Issues, Risks, and Recommendations\n\n- In 2023–24, ASIC:\nassets, technology, market fragmentation,\n♦ signed an MOU with Banca d’Italia\nenforcement, consumer protection, emerging\nrisks and standards implementation. ♦ signed an MOU with the UK Financial\nReporting Council on arrangements for the\nAs part of IOSCO, ASIC:\nrecognition of audit qualifications\n♦ is Chair of the Committee on Regulation of\n♦ concluded an MOU with India’s International\nMarket Intermediaries\nFinancial Services Centres Authority that is\n♦ is a member of the Fintech Task Force awaiting signature\n♦ is a member of the Sustainable Finance Task ♦ concluded an MOU with the Vietnam State\nForce Securities Commission (SSC) that is expected\nto be signed in August 2024.\n♦ actively participates in the Asia Pacific\nRegional Committee including leading Throughout 2023–24, ASIC continued to support\nregional initiatives. the Department of Foreign Affairs and Trade\n Source: `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)`\n- [pages 6,7,8]\ninsurance, breach reporting, and the design and distribution obligations)\nEnhancing communication and engagement with our stakeholders and other\nregulatory agencies, to ensure our actions and achievements have a real and\ntangible impact\nImproving our infrastructure and systems to strengthen our key internal operations,\nprocesses and governance frameworks to effectively support our regulatory work\nINTERNAL\nPRIORITIES\nEnhancing and effectively utilising our data and cyber resilience capabilities in\nfulfilling our regulatory mandate and organisational priorities\nContinuing to nurture a workplace environment that promotes a culture of speaking\nup, challenge, accountability and a ‘whole-of-ASIC’ lens, underpinned by a sound\nsystem of risk management and compliance\n05 ASIC Corporate Plan 2021–25\n Source: `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)`\n- Action 2021–22\nCross-sector\nProject Strategic\nFocus Key actions\nstatus priority\nCyber resilience New and Provide guidance to industry as part of ASIC-wide campaigns 3\ncontinuing in coordination with other regulators and agencies, and\nengage with industry on cyber issues\nAssess selected regulated entities’ cyber resilience and\nmanagement of cyber risks (e.g. through self-assessments)\nand, as part of an ASIC-wide cyber working group, analyse\nresponses\nCommunicate expectations to boards and send letters to\nspecific entities with key findings\nDevelop, agree and finalise an effective supervisory\napproach with APRA for dual-regulated entities such\nas authorised deposit-taking institutions, insurers and\nsuperannuation funds\n21 ASIC Corporate Plan 2021–25\n Source: `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)`\n- Under this initiative, we will work with two regtech\nscale-up businesses to develop an innovative technology\nsolution to identify and assess poor market disclosure by\nlisted companies\nFinancial reporting and audit\nProject Strategic\nFocus Key actions\nstatus priority\nSustainability Continuing Provide feedback to the IOSCO Sustainability Technical 1\nreporting Experts Group on a framework for sustainability reporting\nunder a possible International Sustainability Standards Board\nNew tiers of Continuing Update ASIC forms, instruments and guides to reflect the 1\nreporting new tiers of reporting under accounting standards that apply\nto years commencing 1 July 2021\nMarket supervision\nProject Strategic\nFocus Key actions\nstatus priority\nEvolving retail New Assess emerging retail products and distribution strategies, 1\ntrading landscape focusing on:\n› trading apps that ‘gamify’ trading\n Source: `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)`\n- [pages 25,26,27]\nrements\nIssue harmonised Australian Trade Reporting rules (planned\nfor late-2021 with full implementation by mid-2022)\nLIBOR transition Continuing Continue facilitation and monitoring of the transition from 3\nusing the London Interbank Offered Rate (LIBOR) to risk-free\nrates\nCrypto-assets New Identify good practices in how the industry complies with 2\nexisting obligations when admitting, creating and operating\nexchange traded and other investment products that provide\nexposure to crypto-assets.\n Source: `corporate-plans/2021-22.pdf (https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf)`\n- [Page 33]\nRISKS MITIGATION S TR ATEGY\n♦ Workforce and organisational design strategy\nTransforming ASIC’s ♦ Cross-team secondments, succession, training and mentoring\nworkforce to support programs to upskill workforce\nour digital ambitions ♦ Recruitment of people with required skill sets in line with our people\nand evolving regulatory capability strategy\nenvironment\n♦ Engagement with government, industry and other agencies to\nunderstand upcoming needs\n♦ Multi-year data and IT strategy\nAbility to fund critical ♦ Pursuing data sharing opportunities with other Commonwealth\ndata and technology agencies\nuplift to maintain ASIC’s ♦ Partnering with industry and academia to deliver and enhance\neffectiveness as a regulatory activities\nregulator and as a registry\n♦ Commission and Executive oversight of program performance,\nrisks and issues\n Source: `corporate-plans/2024-25.pdf (https://download.asic.gov.au/media/1t4gbqvs/asic-corporate-plan-2024-25-published-22-august-2024.pdf)`\n- [pages 15,16,17,18,19,20]\nagement Enforcement WA\nCompliance\nInvestment Enforcement & Criminal Insolvency\nManagers Intelligence Practitioners\nWealth Unit\nSuperannuation Management – Market\nMajor Financial Markets Infrastructure\nInstitutions Enforcement\nMarket\nSupervision\nStrategy and operational groups\nChief Operating\nOfficer\nChief Legal\nOffice Strategy Communications Risk & Integrity Operations\nAdministrative Behavioural Consumer Internal Audit Corporate Services\nLaw Research & Policy Insights &\nCommunications Chief Risk Office Data & Analytics\nCommission International\nCounsel Corporate Affairs Finance\nStrategic Intelligence\nDelegates Panel Information\nTechnology\nStrategic Policy\nSpecial Counsel\nPeople &\nDevelopment\nRegistry\nInteractions &\nServices\nRegulatory Systems\n& Improvement\nSpecialist Services\nASIC’s role 13\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- ASIC governance structure\nAccountable Authority and Commission\nCommission Committees Audit\nCommittee\nCommission Commission Commission Commission\nEnforcement Regulatory Risk Steering\nCommittee Committee Committee Committee\nManagement Committees\nExecutive Risk Executive\nCommittee Committee\nSpecialist Commission Specialist Executive\nSubcommittees Subcommittees\nEnforcement Emerging Regulatory Regulatory Work Health & Safety Digital Governance Integrity\nOversight Threats & Harms Issues Policy Subcommittee Subcommittee Subcommittee\nCommittee Committee Committee Committee\n18 ASIC Annual Report 2020–21\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [Page 111]\n3.8 Large financial institutions\nSupervision of large › including Suncorp in the cohort with a\ncomprehensive review of two of the key\nfinancial institutions\nsystems that enable the early detection\nand prevention of customer harms (the\nASIC conducts intensive supervision of\nincidents management and internal\nAustralia’s largest and most complex\ndispute resolution systems)\ninstitutions that have the greatest\n› the initiation of reviews of the\npotential to affect consumers: CBA, WBC,\ninstitutions’ internal audit functions\nNAB, ANZ, AMP and Suncorp.\n› continued monitoring of actions taken\nAs set out in Chapter 2, the focus in and outcomes achieved by institutions\n2020–21 was on: in response to reviews conducted in\nprior years, including internal dispute\n› monitoring how the institutions\nresolution and breach reporting in the\nresponded to the pandemic\ncontext of incident management.\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [pages 111,112,113,114]\nhe early detection\nand prevention of customer harms (the\nASIC conducts intensive supervision of\nincidents management and internal\nAustralia’s largest and most complex\ndispute resolution systems)\ninstitutions that have the greatest\n› the initiation of reviews of the\npotential to affect consumers: CBA, WBC,\ninstitutions’ internal audit functions\nNAB, ANZ, AMP and Suncorp.\n› continued monitoring of actions taken\nAs set out in Chapter 2, the focus in and outcomes achieved by institutions\n2020–21 was on: in response to reviews conducted in\nprior years, including internal dispute\n› monitoring how the institutions\nresolution and breach reporting in the\nresponded to the pandemic\ncontext of incident management.\n(particularly issues confronting\nvulnerable consumers)\nASIC’s achievements by sector 109\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- [Page 14]\nChart 1.2—Organisational structure as at 1 July 2023\nAustralian\nChair: Deputy Chairs: Commissioner:\nSecurities and\nJoseph Longo Karen Chester Danielle Press Office of\nInvestments\nCommission Sarah Court the Commission\nChair and Accountable Authority Internal Audit\nJoseph Longo\nChief Executive Officer\nWarren Day Chief Risk Office\nPeople,\nIn I t n e t l e li r g n e a n t c io e n a a n l d Re S g u u p l e a r t v io is n i o a n nd Markets Enf C o o rc m e p m li e a n n t c e and Legal Services a T n ra d n T s e fo c r h m no a l t o io g n y\nMisconduct and Superannuation Market Enforcement Deputy General People and\nBreach Reporting and Supervision Inquiries and Counsel Development\nLife Insurance Compliance\nStrategic Market Regulatory Advice Digital, Data and\nPlanning and Credit, Banking Infrastructure Enforcement and Technology\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n- In 2022–23, we released 37 supervision, surveillance or review reports, including on\nissues such as:\n› progress made by superannuation trustees to improve their arrangements for life\ninsurance in superannuation – Report 7601 Insurance in superannuation: Industry\nprogress on delivering better outcomes for members\n› compliance with design and distribution obligations by issuers of\ninvestment products – Report 7622 Design and distribution obligations:\nInvestment products\n› how failures by general insurers to manage non-financial risk have led to\nsignificant consumer harm – Report 7653 When the price is not right: Making\ngood on insurance pricing promises.\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n- [Page 97]\nOrganisational structure as at 30 June 2023\nChart 3.1 ASIC organisational structure as at 30 June 2023\nChair: Deputy Chairs: Commissioners:\nAustralian Securities and Joseph Longo Karen Chester Danielle Press\nInvestments Commission Sarah Court Sean Hughes1\nChair and Accountable Authority\nJoseph Longo Chief Operating Officer\nWarren Day\nOffice of the Chair\nChief of Staff: Louise Macaulay\nOffice of Enforcement\nStrategy Fina a n n c d i a W l S e e a r lt v h ices Financial Services Markets Markets\nEnforcement Enforcement\nBehavioural Credit and Financial Services Corporations Chief Accountant\nResearch Banking Enforcement and\nand Policy Corporate Corporations\nFinancial Office of Governance\nInternational Advisers Enforcement Governance\nProjects Enforcement WA\nStrategic Institutional Market\nIntelligence Supervision Small Business Markets Infrastructure\nEngagement Enforcement\n Source: `annual-reports/2022-23.pdf (https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf)`\n- Despite the scale of\n♦ have adequate risk management systems\nLanterne’s CARs, Lanterne had only one full-\n♦ have adequate technological and human\ntime employee, its CEO and sole director, Peter\nresources to provide the services covered by\nCozens.\nits AFS licence\nIn April 2024, following proceedings brought\n♦ ensure that its representatives were\nby ASIC, the Federal Court ordered Lanterne\nadequately trained\nto pay a $1.25 million penalty for its failure to\ncomply with six of the general obligations of ♦ maintain the competence to provide financial\nAFS licence holders. services covered by its AFS licence\nLanterne admitted that it: ♦ take reasonable steps to ensure that its\nrepresentatives complied with Australian\n♦ did not have a formal or documented risk\nfinancial services laws\nmanagement system or any systems of\n Source: `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)`\n\n## Corporate Values and Operating Culture\n\n- Morgan Securities Australia trading monitoring systems to detect potential\nLimited (JPMSAL) $775,000 for permitting misconduct, should ensure that staff have\nsuspicious client orders to be placed on the appropriate knowledge of the products they\nASX 24 futures market. and their clients trade in, and be able to detect\nThe MDP found JPMSAL should have and respond to any suspicious behaviour.\nsuspected 36 orders placed by a client between Further, market participants should ensure\n11 January 2022 and 3 March 2022 were clients for which they permit direct market\nsubmitted with the intention of creating a false access to, remain competent and aware of their\nor misleading appearance with respect to the obligations.\nmarket for, or the price of, the Eastern Australia This result aligns with ASIC’s enduring\nWheat futures January 2023 (WMF3) contracts. enforcement priority to take action for\n Source: `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)`\n- Area Outcomes Outputs and evidence\nEnforcement Financial firms and individuals Case studies (e.g. where we have used our regulatory\nand surveillance providing financial services meet tools to change behaviour in the financial system)\ntheir obligations, act professionally\nand treat their clients fairly Measures of the cleanliness of the Australian listed\nequity market\nEntities improve their business\npractices in response to identified Operational data (e.g. number of enforcement\nareas for improvement, with actions undertaken and results achieved, number of\nthese changes reducing harms or industry reports published)\nimproving consumer outcomes\nExternal data (e.g. data published by AFCA)\nEntities have fair and efficient\ndispute resolution processes in Number and nature of misconduct-related complaints\nplace\nThe amount of compensation for wrongdoing\n Source: `corporate-plans/2022-23.pdf (https://download.asic.gov.au/media/v3vhdqiw/asic-corporate-plan-2022-26-focus-2022-23-published-22-august-2022.pdf)`\n- [Page 34]\n01 YE AR IN REVIEW 02 AGENCY OVERVIEW 03 PERFORMANCE STATEMENT 04 ASIC’S STRUC TURE 05 ASIC’S PEOPLE 06 FINANCIAL STATEMENTS\nTOTA L TOTA L\nOU TCO M E 2023 – 24 2022– 23\nWarnings issued 1 -\nRegistration Prohibition Orders issued 2 -\nCourt enforceable undertakings\nCourt enforceable undertakings accepted 7 3\nInfringement notices19\nTotal number of infringement notices issued 26 20\nTotal dollar value of infringement notices $7.2m $6.7m\nSummary prosecutions\nSummary prosecutions for strict liability offences 186 210\nTotal value of fines and costs $1.1m $1.6m\nGuidance\nIndustry reports published 18 37\nNew or revised regulatory guides published 30 34\nNew or revised information sheets 34 29\nLegislative instruments made, amended and repealed 88 56\nLicensing and professional registration activities\nAdministrative decisions\nLicensing and registration applications received 1,531 1,497\n Source: `annual-reports/2023-24.pdf (https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf)`\n- [Page 97]\n04 ASIC’S STRUC TURE 05 ASIC’S PEOPLE 06 FINANCIAL STATEMENTS\nTOTA L TOTA L\nOU TCO M E 2024 – 25 2023 – 24\nInfringement notices15\nTotal number of infringement notices issued 16 26\nTotal dollar value of infringement notices $5.6m $7.2m\nSummary prosecutions\nSummary prosecutions for strict liability offences 235 186\nTotal value of fines and costs $1.6m $1.1m\nGuidance\nIndustry reports published 27 18\nNew or revised regulatory guides published 49 30\nNew or revised information sheets 8716 34\nLegislative instruments made, amended and repealed 55 88\nLicensing and professional registration activities\nAdministrative decisions\nLicensing and registration applications received 1,531 1,531\nLicensing and registration applications approved 1,021 1,116\nLicensing and registration applications refused or 360 385\nwithdrawn\nLicensing and registration applications in progress 818 626\n Source: `annual-reports/2025.pdf (https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf)`\n- [Page 74]\n04 ASIC’S STRUC TURE 05 ASIC’S PEOPLE 06 FINANCIAL STATEMENTS\nTOTA L TOTA L\nOU TCO M E 2024 – 25 2023 – 24\nInfringement notices15\nTotal number of infringement notices issued 16 26\nTotal dollar value of infringement notices $5.6m $7.2m\nSummary prosecutions\nSummary prosecutions for strict liability offences 235 186\nTotal value of fines and costs $1.6m $1.1m\nGuidance\nIndustry reports published 27 18\nNew or revised regulatory guides published 49 30\nNew or revised information sheets 8716 34\nLegislative instruments made, amended and repealed 55 88\nLicensing and professional registration activities\nAdministrative decisions\nLicensing and registration applications received 1,531 1,531\nLicensing and registration applications approved 1,021 1,116\nLicensing and registration applications refused or 360 385\nwithdrawn\nLicensing and registration applications in progress 818 626\n Source: `other-pdfs/asic-2025-annual-report-ch-3-annual-performance-statements.pdf (https://download.asic.gov.au/media/nyscnm52/asic-2025-annual-report-ch-3-annual-performance-statements.pdf)`\n- We will:\nteam members by creating a workplace where\n♦ encourage our people to embrace learning to staff feel included, valued and safe, and\nmaximise their leadership and technical capability\n♦ through our procurement, continuing to develop\nin the skills needed for the future, through the\nrelationships with Indigenous businesses.\ndevelopment of a growth mindset\n♦ optimise our culture to enable clarity in roles, clear Diversity, inclusion and belonging\naccountability and effective communication so\nAs of 1 May 2025, ASIC has 2,279 employees.\nteam members feel valued and connected to their\nrole in enabling the corporate plan\nOur employees reflect the community we serve.\n♦ continue to listen to and act on feedback provided Women make up 55% of the organisation, people\nby our employees, through our Pulse engagement with disabilities 12%, and 31% speak a language\n Source: `corporate-plans/2025-26.pdf (https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf)`\n- [Page 73]\nInternational collaboration Impact of the COVID-19 pandemic\nThe Executive Director of ASIC Registry, The COVID‑19 pandemic presented many\nRosanne Bell, continued as President of challenges for businesses across Australia.\nthe international Corporate Registers During the pandemic, ASIC registry\nForum (CRF) during 2020–21. services continued to be available to the\npublic and regulated population, and all\nThe CRF is an association of corporate\nkey service targets were achieved.\nregistries from more than 60 jurisdictions.\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n- This year, we:\nWomen in Leadership award.\n› published our Multicultural Action and\nRainbow Action plans\n› developed an Aboriginal and Equitable gender briefing\nTorres Strait Islander Employment\nStrategy and an Indigenous Cultural The Legal Services Directions 2017\nSafety Strategy require Commonwealth entities to use all\n› maintained a gender‑balanced reasonable endeavours to select female\nleadership team at the Senior Executive barristers with seniority, expertise and\nService (SES) level, with women experience in the relevant practice area.\ncomprising 59% of senior executives This aims to increase briefing rates so that\nsenior female barristers account for at\n› increased our Indigenous workforce to\nleast 25% of all briefs, or 25% of the value\n1.63% (from 1.44% last year)\nof all brief fees paid to senior barristers,\n› achieved bronze status in the Australian\n Source: `annual-reports/2020-21.pdf (https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf)`\n\n## Global Ideas and Case Study Inputs\n\nGlobal source texts are available for later idea synthesis:\n- `global-intelligence/source-text/association-worldbank.org-governance.txt`\n- `global-intelligence/source-text/association-worldbank.org-public-financial-management.txt`\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt`\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt`\n\n## Source Artifacts Used\n\n- `corporate-plans/2021-22.pdf` - corporate-plans - https://download.asic.gov.au/media/qzcaljce/asic-corporate-plan-2021-25-focus-2021-22-published-26-august-2021.pdf\n- `corporate-plans/2022-23.pdf` - corporate-plans - https://download.asic.gov.au/media/v3vhdqiw/asic-corporate-plan-2022-26-focus-2022-23-published-22-august-2022.pdf\n- `corporate-plans/2023-24.pdf` - corporate-plans - https://download.asic.gov.au/media/2cshqbxb/asic-corporate-plan-2023-27-focus-2023-24-published-28-august-2023.pdf\n- `corporate-plans/2024-25.pdf` - corporate-plans - https://download.asic.gov.au/media/1t4gbqvs/asic-corporate-plan-2024-25-published-22-august-2024.pdf\n- `corporate-plans/2025-26.pdf` - corporate-plans - https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf\n- `annual-reports/2020-21.pdf` - annual-reports - https://download.asic.gov.au/media/2aaomxuz/asic-annual-report-2020-21-full-1.pdf\n- `annual-reports/2021-22.pdf` - annual-reports - https://download.asic.gov.au/media/10dg0aqv/asic-annual-report-2021-22_full.pdf\n- `annual-reports/2022-23.pdf` - annual-reports - https://download.asic.gov.au/media/b3zf3or3/asic-annual-report-2022-23_full.pdf\n- `annual-reports/2023-24.pdf` - annual-reports - https://download.asic.gov.au/media/nwridckz/asic-annual-report-2023-24_full.pdf\n- `annual-reports/2025.pdf` - annual-reports - https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf\n- `strategies/asic-strategic-outlook-2014-2015.pdf` - strategies - https://download.asic.gov.au/media/2195181/asic-strategic-outlook-2014-2015.pdf\n- `pages/about.html` - pages - https://asic.gov.au/online-services/\n- `pages/announcements-index.html` - pages - https://asic.gov.au/newsroom/search/?type=speech\n- `pages/annual-reports-index.html` - pages - https://asic.gov.au/about-asic/corporate-publications/asic-annual-reports/\n- `pages/annual-reports-index__00.html` - pages - https://asic.gov.au/about-asic/corporate-publications/superannuation-complaints-tribunal-annual-report-2020-21/\n- `pages/corporate-plans-index.html` - pages - https://asic.gov.au/about-asic/corporate-publications/asic-corporate-plan/\n- `pages/homepage.html` - pages - https://asic.gov.au\n- `pages/media-releases-index.html` - pages - https://asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-074mr-from-anxiety-to-action-helping-australians-to-plan-for-their-financial-future/\n- `pages/media-releases-index__03.html` - pages - https://asic.gov.au/newsroom/media-releases/\n- `pages/news-latest.html` - pages - https://asic.gov.au/newsroom\n- `pages/priorities-index.html` - pages - https://asic.gov.au\n- `pages/priorities-index__01.html` - pages - https://asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-074mr-from-anxiety-to-action-helping-australians-to-plan-for-their-financial-future/\n- `pages/priorities-index__02.html` - pages - https://asic.gov.au/about-asic/corporate-publications/asic-corporate-plan/\n- `pages/publications-index.html` - pages - https://asic.gov.au/about-asic/corporate-publications/statistics/\n- `global-intelligence/source-text/association-worldbank.org-governance.txt` - global-intelligence - local file\n- `global-intelligence/source-text/association-worldbank.org-public-financial-management.txt` - global-intelligence - local file\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt` - global-intelligence - local file\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt` - global-intelligence - local file\n- `other-pdfs/asic-2025-annual-report-ch-1-yearinreview.pdf` - other-pdfs - https://download.asic.gov.au/media/c5tnpymk/asic-2025-annual-report-ch-1-yearinreview.pdf\n- `other-pdfs/asic-2025-annual-report-ch-2-agency-overview.pdf` - other-pdfs - https://download.asic.gov.au/media/3szc4q04/asic-2025-annual-report-ch-2-agency-overview.pdf\n- `other-pdfs/asic-2025-annual-report-ch-3-annual-performance-statements.pdf` - other-pdfs - https://download.asic.gov.au/media/nyscnm52/asic-2025-annual-report-ch-3-annual-performance-statements.pdf\n- `other-pdfs/asic-2025-annual-report-ch-4-structure-and-management.pdf` - other-pdfs - https://download.asic.gov.au/media/mwgbsdd4/asic-2025-annual-report-ch-4-structure-and-management.pdf\n- `other-pdfs/asic-2025-annual-report-front-section.pdf` - other-pdfs - https://download.asic.gov.au/media/qcvpqeps/asic-2025-annual-report-front-section.pdf\n\n## Gaps To Fix\n\n- No major source gaps detected by the deterministic checks.", "legislation_md": "# Australian Securities and Investments Commission — Legislation Administered\n\n**Generated**: 2026-05-13T02:52:16+00:00\n**Source**: LLM extraction (nova-micro) from latest annual report and corporate plan\n**Tokens**: 30,494 in / 1,146 out · cost: $0.00123\n\n> Acts and instruments this entity administers or has primary responsibility for.\n> Excludes generic gov-wide compliance Acts (PGPA, Public Service Act, FOI, Privacy, etc.).\n\n**Source documents fed to the model**:\n- Annual report: `annual-reports\\2025.txt`\n- Corporate plan: `corporate-plans\\2025-26.txt`\n\n## 11 laws administered\n\n| Title | Year | Type | What this entity does under it |\n|---|---|---|---|\n| [Australian Securities and Investments Commission Act 2001](https://www.legislation.gov.au/search?query=Australian%20Securities%20and%20Investments%20Commission%20Act%202001) | 2001 | Act | ASIC administers this Act to regulate the financial services and consumer credit sectors in Australia. |\n| [Business Names Registration Act 2011](https://www.legislation.gov.au/search?query=Business%20Names%20Registration%20Act%202011) | 2011 | Act | ASIC administers this Act to regulate business names in Australia. |\n| [Corporations Act 2001](https://www.legislation.gov.au/search?query=Corporations%20Act%202001) | 2001 | Act | ASIC administers this Act to regulate corporations, financial services, and consumer credit in Australia. |\n| [Financial Accountability Regime Act 2023](https://www.legislation.gov.au/search?query=Financial%20Accountability%20Regime%20Act%202023) | 2023 | Act | ASIC administers this Act to establish a framework for financial accountability. |\n| [Insurance Contracts Act 1984](https://www.legislation.gov.au/search?query=Insurance%20Contracts%20Act%201984) | 1984 | Act | ASIC administers this Act to regulate insurance contracts in Australia. |\n| [National Consumer Credit Protection Act 2009](https://www.legislation.gov.au/search?query=National%20Consumer%20Credit%20Protection%20Act%202009) | 2009 | Act | ASIC administers this Act to protect consumers in the credit industry. |\n| [Banking Act 1959](https://www.legislation.gov.au/search?query=Banking%20Act%201959) | 1959 | Act | ASIC administers parts of this Act related to banking. |\n| [Life Insurance Act 1995](https://www.legislation.gov.au/search?query=Life%20Insurance%20Act%201995) | 1995 | Act | ASIC administers parts of this Act related to life insurance. |\n| [Medical Indemnity (Prudential Supervision and Product Standards) Act 2003](https://www.legislation.gov.au/search?query=Medical%20Indemnity%20%28Prudential%20Supervision%20and%20Product%20Standards%29%20Act%202003) | 2003 | Act | ASIC administers parts of this Act related to medical indemnity. |\n| [Retirement Savings Accounts Act 1997](https://www.legislation.gov.au/search?query=Retirement%20Savings%20Accounts%20Act%201997) | 1997 | Act | ASIC administers parts of this Act related to retirement savings accounts. |\n| [Superannuation Industry (Supervision) Act 1993](https://www.legislation.gov.au/search?query=Superannuation%20Industry%20%28Supervision%29%20Act%201993) | 1993 | Act | ASIC administers this Act to regulate the superannuation industry. |", "global_initiatives_md": "# Australian Securities and Investments Commission — Global Initiatives Catalogue\n\n## Focus areas\n- Improved consumer outcomes\n- Address financial system climate change risk\n- Better retirement outcomes and member services\n- Advance digital and data resilience and transparency across markets\n\n## Improved consumer outcomes\n\n### Consumer Financial Protection Program\n**Jurisdiction**: United States\n**Run by**: Consumer Financial Protection Bureau (CFPB)\n**Year**: 2011\n**Status**: Active\n**What it does (2–3 sentences)**: The CFPB aims to protect consumers in the financial marketplace by providing clear, consistent, and accurate information about financial products and services. It also enforces consumer protection laws and helps consumers resolve issues with financial products.\n**Why it matters to Australia (1–2 sentences)**: The CFPB's comprehensive approach to consumer protection can provide valuable insights into effective regulatory frameworks and consumer education programs.\n**Find more**: [Consumer Financial Protection Bureau](https://www.google.com/search?q=Consumer+Financial+Protection+Bureau)\n\n### MoneySmart Program\n**Jurisdiction**: New Zealand\n**Run by**: Financial Capability New Zealand\n**Year**: 2004\n**Status**: Active\n**What it does (2–3 sentences)**: The MoneySmart Program provides free, independent, and unbiased financial education resources to help New Zealanders make informed financial decisions. It covers a range of topics from budgeting to investing.\n**Why it matters to Australia (1–2 sentences)**: The program's focus on financial literacy and education can offer models for enhancing consumer financial education in Australia.\n**Find more**: [MoneySmart Program](https://www.google.com/search?q=MoneySmart+Program+New+Zealand)\n\n### Financial Ombudsman Service\n**Jurisdiction**: United Kingdom\n**Run by**: Financial Ombudsman Service (FOS)\n**Year**: 1979\n**Status**: Active\n**What it does (2–3 sentences)**: The FOS provides a free, independent service to resolve disputes between consumers and financial services companies. It aims to provide a fair and quick resolution to complaints.\n**Why it matters to Australia (1–2 sentences)**: The FOS's dispute resolution model can provide valuable insights into effective consumer protection mechanisms.\n**Find more**: [Financial Ombudsman Service](https://www.google.com/search?q=Financial+Ombudsman+Service+UK)\n\n## Address financial system climate change risk\n\n### Task Force on Climate-related Financial Disclosures (TCFD)\n**Jurisdiction**: Global\n**Run by**: Financial Stability Board (FSB)\n**Year**: 2017\n**Status**: Active\n**What it does (2–3 sentences)**: The TCFD recommends principles for companies to disclose climate-related financial risks and impacts. It aims to improve the availability and consistency of climate-related disclosures.\n**Why it matters to Australia (1–2 sentences)**: The TCFD's recommendations can guide Australia in developing robust frameworks for climate-related financial disclosures.\n**Find more**: [Task Force on Climate-related Financial Disclosures](https://www.google.com/search?q=Task+Force+on+Climate-related+Financial+Disclosures)\n\n### Climate Disclosure Standards Board (CDSB)\n**Jurisdiction**: Global\n**Run by**: CDSB\n**Year**: 2013\n**Status**: Active\n**What it does (2–3 sentences)**: The CDSB develops global standards for corporate climate disclosure. These standards aim to ensure that companies disclose the financial impacts of climate-related risks.\n**Why it matters to Australia (1–2 sentences)**: The CDSB's standards can provide a model for Australia to enhance corporate climate risk disclosures.\n**Find more**: [Climate Disclosure Standards Board](https://www.google.com/search?q=Climate+Disclosure+Standards+Board)\n\n## Better retirement outcomes and member services\n\n### Retirement Income System Review\n**Jurisdiction**: United Kingdom\n**Run by**: HM Treasury\n**Year**: 2018\n**Status**: Active\n**What it does (2–3 sentences)**: The Review assesses the UK's retirement income system and proposes reforms to ensure that individuals have sufficient income in retirement. It focuses on improving the sustainability and adequacy of retirement incomes.\n**Why it matters to Australia (1–2 sentences)**: The Review's recommendations can provide insights into designing sustainable retirement income systems.\n**Find more**: [Retirement Income System Review UK](https://www.google.com/search?q=Retirement+Income+System+Review+UK)\n\n### Superannuation System Review\n**Jurisdiction**: Australia\n**Run by**: Australian Government\n**Year**: 2017\n**Status**: Active\n**What it does (2–3 sentences)**: The Review examined Australia's superannuation system and proposed reforms to improve the efficiency, transparency, and competitiveness of the industry. It aims to enhance retirement outcomes for Australians.\n**Why it matters to Australia (1–2 sentences)**: This review is directly relevant as it provides a benchmark for Australia's own superannuation system reforms.\n**Find more**: [Superannuation System Review Australia](https://www.google.com/search?q=Superannuation+System+Review+Australia)\n\n## Advance digital and data resilience and transparency across markets\n\n### Financial Stability Board (FSB) Digital Financial Services\n**Jurisdiction**: Global\n**Run by**: Financial Stability Board (FSB)\n**Year**: 2018\n**Status**: Active\n**What it does (2–3 sentences)**: The FSB's Digital Financial Services initiative aims to promote the development of safe, sound, and efficient digital financial services. It focuses on regulatory cooperation and innovation in financial services.\n**Why it matters to Australia (1–2 sentences)**: The initiative can provide insights into fostering digital innovation while ensuring financial stability and consumer protection.\n**Find more**: [FSB Digital Financial Services](https://www.google.com/search?q=Financial+Stability+Board+Digital+Financial+Services)\n\n### Singapore Fintech Regulatory Sandbox\n**Jurisdiction**: Singapore\n**Run by**: Monetary Authority of Singapore (MAS)\n**Year**: 2016\n**Status**: Active\n**What it does (2–3 sentences)**: The Regulatory Sandbox allows fintech companies to test innovative financial products, services, and business models in a controlled environment. It aims to foster innovation while ensuring consumer protection.\n**Why it matters to Australia (1–2 sentences)**: The Sandbox can provide a model for creating a regulatory environment that encourages fintech innovation.\n**Find more**: [Singapore Fintech Regulatory Sandbox](https://www.google.com/search?q=Singapore+Fintech+Regulatory+Sandbox)\n\n*Note: These are LLM-knowledge claims, not scraped sources — verify before citing publicly.*", "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": "A fair, strong and efficient financial system for all Australians", "vision_source_page": 11, "purposes": "To monitor and promote market integrity and consumer protection in the Australian financial system", "purposes_source_page": 7, "how_we_deliver": "We achieve this through our key activities: Enforcement and compliance, Regulation and supervision, Registry and licensing, Engagement and education, Unclaimed money", "how_we_deliver_source_page": 7, "government_priorities": [ { "text": "Improve Drive better outcomes for consumers and small business, with a focus on: credit and financial hardship, dispute resolution, scams, insurance, and trusted financial education through ASIC’s Moneysmart", "source_page": 14 }, { "text": "Support better Drive better outcomes for Australians planning for and in retirement, with a focus on: superannuation member services, retirement outcomes, and exploitation of superannuation savings", "source_page": 18 }, { "text": "Strengthen market disclosure and professional conduct by ASIC-regulated professionals, with a focus on: financial reporting, climate reporting, auditors, and director conduct", "source_page": 19 }, { "text": "Advance digital and data resilience and safety across markets", "source_page": 20 }, { "text": "Drive consistency and transparency across markets and products", "source_page": 20 } ], "outcomes": [ { "name": "Outcome 1: Improved confidence in Australia’s financial markets through promoting informed investors and financial consumers, facilitating fair and efficient markets and delivering efficient registry systems", "description": "ASIC operates under one outcome statement.", "key_activities": [ "Enforcement and Regulation", "Registry", "Engagement and Unclaimed money" ], "source_page": 12 } ], "values": [ "Monitor and promote market integrity and consumer protection", "Enforce the law effectively and with minimal procedural requirements", "Promote confident and informed participation of investors and consumers in the financial system", "Take whatever action we can, and which is necessary, to enforce and give effect to the law" ], "values_framework_name": "None", "kpi_targets_2025_26": [ { "code": "3.1", "measure": "Percentage of company and business name registration applications determined within target", "target": "Equal to or greater than 90% of applications determined within target", "source_page": 29 }, { "code": "3.2", "measure": "Percentage of AFS licence applications determined within target", "target": "70% within 150 days, and 90% within 240 days, of receiving a complete application", "source_page": 29 }, { "code": "4.1", "measure": "Number of visits to ASIC’s Moneysmart website", "target": "Establish a baseline in 2025–26", "source_page": 30 }, { "code": "5.1", "measure": "Percentage of refunds of unclaimed money paid to successful claimants", "target": "Equal to or greater than 80% of unclaimed money applications completed within 60 days", "source_page": 30 } ], "kpi_results_2024_25": [ { "code": "3.1", "measure": "Percentage of company and business name registration applications determined within target", "result": "N/A", "status": "Not achieved", "source_page": 261 }, { "code": "3.2", "measure": "Percentage of AFS licence applications determined within target", "result": "N/A", "status": "Not achieved", "source_page": 261 }, { "code": "4.1", "measure": "Number of visits to ASIC’s Moneysmart website", "result": "11.7m", "status": "Achieved", "source_page": 261 }, { "code": "5.1", "measure": "Percentage of refunds of unclaimed money paid to successful claimants", "result": "Equal to or greater than 80% of unclaimed money applications completed within 60 days", "status": "Achieved", "source_page": 261 } ], "_source_urls": { "annual_report_url": "https://download.asic.gov.au/media/llbhx4al/asic-2025-annual-report-full-report.pdf", "corporate_plan_url": "https://download.asic.gov.au/media/xbtjrb4m/asic-corporate-plan-2025-26-published-27-august-2025.pdf" } }, "ideas": [ { "id": "license-processing-speed", "category": "Case Processing", "title": "Accelerate AFS Licence Application Processing", "scale": "Medium", "impact": "Medium", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Financial service providers", "description": "Introduce a fast-track processing pathway for AFS licence applications that meet all regulatory criteria to reduce the average processing time from 240 days to 120 days.", "evidence_quote": "'Percentage of AFS licence applications determined within target: 70% within 150 days, and 90% within 240 days of receiving a complete application' [CP p.20]", "source": "annual-reports/2025.pdf", "implementation_steps": [ "Develop a fast-track processing protocol", "Train staff on new processes", "Monitor and report on performance metrics" ], "risks_to_manage": [ "Increased workload for staff", "Risk of errors in fast-tracked applications", "Need for additional resources" ] }, { "id": "digital-surveillance-tools", "category": "Regulation & Policy", "title": "Implement Advanced Digital Surveillance Tools", "scale": "Large", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Market participants", "description": "Adopt advanced AI-driven surveillance tools to enhance real-time monitoring of market activities and detect anomalies more efficiently.", "evidence_quote": "'Advance digital and data resilience and transparency across markets' [CP p.57]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Conduct a needs assessment", "Select and procure suitable technology", "Integrate with existing systems and train staff" ], "risks_to_manage": [ "High initial setup costs", "Data privacy concerns", "Resistance to new technology" ] }, { "id": "moneysmart-website-engagement", "category": "Citizen Participation", "title": "Boost Engagement on Moneysmart Website", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Consumers", "description": "Increase visitor engagement on the Moneysmart website by introducing interactive financial education modules and regular updates on financial trends.", "evidence_quote": "'Number of visits to ASIC’s Moneysmart website: Establish a baseline in 2025–26' [CP p.20]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Develop interactive content", "Promote through social media and partnerships", "Track and analyze engagement metrics" ], "risks_to_manage": [ "Content creation workload", "Technical issues with new modules", "Engagement plateau" ] }, { "id": "claims-refund-efficiency", "category": "Procurement & Delivery", "title": "Optimise Refund Processing for Unclaimed Money", "scale": "Small", "impact": "High", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Claimants", "description": "Streamline the refund process for unclaimed money to reduce the average processing time from 60 days to 30 days.", "evidence_quote": "'Percentage of refunds of unclaimed money paid to successful claimants: Equal to or greater than 80% of unclaimed money applications completed within 60 days' [CP p.20]", "source": "annual-reports/2025.pdf", "implementation_steps": [ "Audit current refund processes", "Implement a more efficient payment system", "Monitor and report on performance" ], "risks_to_manage": [ "System integration challenges", "Increased operational costs", "Compliance with legal requirements" ] }, { "id": "global-best-practices-adoption", "category": "Strategy & Reform", "title": "Adopt Global Best Practices in Regulatory Oversight", "scale": "Large", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Market participants", "description": "Integrate globally recognised best practices in regulatory oversight to enhance the effectiveness and efficiency of ASIC’s regulatory functions.", "evidence_quote": "'Use the source text files in this folder to produce implementable ideas for Australia' [Global Intelligence Brief]", "source": "association-worldbank.org-governance.txt", "implementation_steps": [ "Identify relevant global best practices", "Develop a roadmap for implementation", "Train staff and engage stakeholders" ], "risks_to_manage": [ "Cultural and operational resistance", "Resource allocation", "Coordination with international bodies" ] }, { "id": "risk-assessment-tools", "category": "Risk & Assurance", "title": "Enhance Risk Assessment Tools", "scale": "Medium", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Market participants", "description": "Upgrade risk assessment tools to incorporate real-time data analytics and predictive modelling to better anticipate and mitigate systemic risks.", "evidence_quote": "'Advance digital and data resilience and transparency across markets' [CP p.57]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Research and select advanced tools", "Integrate with existing systems", "Train staff on new tools" ], "risks_to_manage": [ "High initial investment", "Data security concerns", "Need for ongoing maintenance" ] }, { "id": "compliance-checklist", "category": "Regulation & Policy", "title": "Develop Comprehensive Compliance Checklist", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Market participants", "description": "Create a detailed compliance checklist for financial service providers to ensure adherence to regulatory requirements, reducing the need for extensive audits.", "evidence_quote": "'To monitor and promote market integrity and consumer protection in the Australian financial system' [CP p.7]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Collaborate with industry experts", "Draft and review the checklist", "Disseminate and educate on the checklist" ], "risks_to_manage": [ "Resistance to new compliance requirements", "Incomplete adoption", "Need for regular updates" ] }, { "id": "unclaimed-money-campaign", "category": "Citizen Participation", "title": "Launch Unclaimed Money Awareness Campaign", "scale": "Large", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Public", "description": "Initiate a nationwide campaign to educate the public about unclaimed money and encourage them to claim their entitlements, leveraging social media and community outreach.", "evidence_quote": "'Unclaimed monies lodgements: Corporations Act 2001 unclaimed monies 88,418 58,410' [AR p.26]", "source": "annual-reports/2025.pdf", "implementation_steps": [ "Design campaign materials", "Partner with media and community organisations", "Monitor and evaluate campaign effectiveness" ], "risks_to_manage": [ "Low public awareness", "High volume of claims", "Resource allocation" ] } ], "legislation_administered": [ { "title": "Australian Securities and Investments Commission Act 2001", "year": "2001", "type": "Act", "role": "ASIC administers this Act to regulate the financial services and consumer credit sectors in Australia.", "register_url": "https://www.legislation.gov.au/search?query=Australian%20Securities%20and%20Investments%20Commission%20Act%202001" }, { "title": "Business Names Registration Act 2011", "year": "2011", "type": "Act", "role": "ASIC administers this Act to regulate business names in Australia.", "register_url": "https://www.legislation.gov.au/search?query=Business%20Names%20Registration%20Act%202011" }, { "title": "Corporations Act 2001", "year": "2001", "type": "Act", "role": "ASIC administers this Act to regulate corporations, financial services, and consumer credit in Australia.", "register_url": "https://www.legislation.gov.au/search?query=Corporations%20Act%202001" }, { "title": "Financial Accountability Regime Act 2023", "year": "2023", "type": "Act", "role": "ASIC administers this Act to establish a framework for financial accountability.", "register_url": "https://www.legislation.gov.au/search?query=Financial%20Accountability%20Regime%20Act%202023" }, { "title": "Insurance Contracts Act 1984", "year": "1984", "type": "Act", "role": "ASIC administers this Act to regulate insurance contracts in Australia.", "register_url": "https://www.legislation.gov.au/search?query=Insurance%20Contracts%20Act%201984" }, { "title": "National Consumer Credit Protection Act 2009", "year": "2009", "type": "Act", "role": "ASIC administers this Act to protect consumers in the credit industry.", "register_url": "https://www.legislation.gov.au/search?query=National%20Consumer%20Credit%20Protection%20Act%202009" }, { "title": "Banking Act 1959", "year": "1959", "type": "Act", "role": "ASIC administers parts of this Act related to banking.", "register_url": "https://www.legislation.gov.au/search?query=Banking%20Act%201959" }, { "title": "Life Insurance Act 1995", "year": "1995", "type": "Act", "role": "ASIC administers parts of this Act related to life insurance.", "register_url": "https://www.legislation.gov.au/search?query=Life%20Insurance%20Act%201995" }, { "title": "Medical Indemnity (Prudential Supervision and Product Standards) Act 2003", "year": "2003", "type": "Act", "role": "ASIC administers parts of this Act related to medical indemnity.", "register_url": 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