privatising asic

The Australianreported this morning the corporate register could be sold as part of a $1 billion plan to bolster the government’s reserves.

The speculation comes after ASIC chairman Greg Medcraft made comments to the economics references committee in February that the corporate register was “frankly, a technology business”.

“It is not really a regulatory business,” Medcraft says. “That business has huge opportunities in terms of economies of scale. The Siebel system we have has, currently, six million names on it.”

Medcraft says there could be “huge benefits” in separating the registry business and “merging it with other government registries to leverage the economies of scale from the Siebel management system”.

http://www.smartcompany.com.au/legal/41549-privatisation-of-asic-corporate-registry-on-the-table.html?utm_source=SmartCompany&utm_campaign=2ef416c6e9-Friday_15_April_20141