The Government has released the Effectiveness and Capability Review of the Australian Securities and Investments Commission (ASIC) undertaken by the Financial Regulator Assessment Authority (FRAA).

The review assessed ASIC’s activities in the following areas: strategic prioritisation, planning and decision-making, surveillance and licensing.

The review concluded that ASIC is generally effective and capable in the areas reviewed, although there are important opportunities to enhance its performance.

The FRAA report contains 4 recommendations which focus on ASIC’s data and technology capability, ASIC’s engagement with stakeholders, ASIC’s ability to measure its own effectiveness and capability, and ASIC continuing to broaden its mix of skillsets to meet current and future needs of the organisation.

The FRAA’s next review will assess the effectiveness and capability of the Australian Prudential Regulation Authority (APRA).

ASIC says it has several initiatives underway that align to the FRAA’s recommendations.

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.