Australian Securities and Investments Commission Act 2001
In plain English
This Act establishes the Australian Securities and Investments Commission (ASIC) and outlines its functions and powers.
The Australian Securities and Investments Commission Act 2001 creates ASIC. ASIC regulates companies, financial markets, financial services, and credit. It aims to ensure fair and efficient markets. The Act applies to businesses in the financial sector and those dealing with investors. It came into force in 2001.
Why it matters
If your business offers financial services or deals with investments, this Act is crucial. It sets standards for how you operate and protects consumers. Understanding your obligations under this Act is vital for good governance.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Summary
Establishes ASIC + sets its information-gathering, investigation + enforcement powers. Pt 2 Div 2 mirrors ACL unconscionable conduct + misleading + deceptive conduct provisions for financial services (since ACL itself excludes financial services). Recent amendments include enhanced breach reporting + product intervention.
Topics
Administered by
Source: https://www.legislation.gov.au/C2004A00819/latest. Rules Mate summarises and links; we don't republish full statutory text. Always verify against the live source before acting.