25 August 2022 - ASIC statement on publication of FRAA report

ASIC welcomes the release of the Financial Regulator Assessment Authority’s report, Effectiveness and Capability Review of the Australian Securities and Investments Commission.

The review acknowledged ASIC’s crucial contribution to Australia’s financial system and found that ASIC is effective and capable in the areas reviewed. The FRAA made four recommendations around enhancing ASIC’s use of data and technology, strengthening its engagement with stakeholders, enhancing its ability to measure effectiveness and capability, and continuing to broaden its mix of skill sets.

ASIC Chair Joe Longo said, ‘We need to keep pace in an environment of accelerated change in order to be a confident and ambitious regulator. I welcome the FRAA’s recommendations which align closely with my priorities for ASIC.’

Related Learning: AFSL Responsible Manager CPD