There's law & then there's enforcement. Enforcement...

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plld

77 Posts.

13/08/20

16:15

Post #: 46516688

Originally posted by edd: ↑
https://asic.gov.au/about-asic/what-we-do/our-role/powers/
Powers
The laws we administer give us the powers we need to perform our role.
These include powers to:
Register and license Regulate Enforce
Register financial services providers
Maintain publicly accessible registers
Grant Australian financial services and credit licences
Intervene to ban defective products
Make legislative rules to ensure financial market integrity
Grant relief from legislation
Investigate suspected breaches
Issue infringement notices
Seek civil penalties
Ban individual activity
Prosecute offenders

Expand
There's law & then there's enforcement. Enforcement requires power, resources & willingness. ASIC has always lacked willingness and have for many years been stretched for resources. There's never been a question of ASIC's powers. It's 'behind the curtains' stuff & you're gonna need a stronger stomach if you want to see how the sausages are made out back!

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