Australian Securities And Investments Commission

1690 WordsAug 16, 20157 Pages
During the last decade the Australian economy has experienced continuous growth and has featured contained inflation, low unemployment and a strong and stable financial system. By 2012, Australia has experienced more than 20 years of continuous economic growth, averaging 3.5% a year. Australia was comparatively unaffected by the global financial crisis (GFC) in 2008 as the banking system remained strong and inflation was controlled to a manageable point, this event has benefited Australia as a whole allowing the country to excel further than other economies that faced the worst of the Global financial Crisis, a core reason to this resistance is the strong and well established regulatory body systems that Australia had put in place. These ‘regulatory body systems’ include the ASIC, APRA, ASX, Federal Treasury and RBA. One of the various regulatory bodies within Australia is Australian Securities and investments commission (ASIC), this particular organisation contributes to Australia’s economic reputation and wellbeing by ensuring that Australia’s financial markets are fair and transparent. As the ASIC plays a part of the governing body within the Australian economy it is required to maintain and improve the performance of the financial system of Australia, promote educated and informed involvement by investors and consumers in the financial system, oversee the enforcement of various laws that have been established to maintain a level of clarity within the industry. To meet
Open Document