ASIC Regulation

ASIC (Australian Securities & Investments Commission) is Australia's corporate, markets, and financial services regulator. An independent Commonwealth Government Body, ASIC serves to protect consumers and Australia's economic reputation and wellbeing.

 

ASIC has become largely popular over the past five years due to stringent policy and regulatory changes in the US. Australia was the natural and obvious choice for many of the large corporate financial services providers to set up shop.

 

Becoming ASIC regulated at a glance

  • Provide legal documentation such as PDS (Product Disclosure Statement, Financial Services Guide)
  • Be eligible to hold an AFSL (Australian Financial Services License)
  • Be eligible and capable of becoming a RM (Responsible Manager)
  • Hold Insurance (Directors and companies insurance as well as to cover client deposits)
  • Be part of the External Dispute Resolution scheme
  • Hold three months of operating costs
  • and more

 

Benefits of working with an ASIC regulated broker

  • Superior security of funds
  • Australia is one of the few nations where banks are guaranteed by the government
  • Strict auditing and compliance procedures are placed on brokerage firms