Working of australian securities and investment commission, Financial Management

Working of ASIC

ASIC as an independent government body enforces and regulates company and financial services laws to protect consumers, investors and creditors. It keeps the public informed of these matters through media releases and its annual report.

ASIC administers the regulatory system of consumer protection for the following products:

  • deposit-taking activities for example, transactions or savings accounts,
  • general insurance,
  • life insurance,
  • Superannuation,
  • retirement savings accounts,
  • managed investments.
  • securities (ie., shares and debentures),
  • derivatives (ie., futures contracts),
  • foreign exchange contracts, and
  • credit.

Consumer protection regulation for these products includes:

  • requirements about the information that must be disclosed to consumers about these products;
  • general prohibition against misleading or deceptive conduct and other unfair practices;
  • licensing of people who give advice on or are dealing in financial products;
  • requirements for conduct of financial services providers; and
  • approval of alternative dispute schemes and industry codes.

 

Posted Date: 9/11/2012 2:53:16 AM | Location : United States







Related Discussions:- Working of australian securities and investment commission, Assignment Help, Ask Question on Working of australian securities and investment commission, Get Answer, Expert's Help, Working of australian securities and investment commission Discussions

Write discussion on Working of australian securities and investment commission
Your posts are moderated
Related Questions
Q. Investigate the following functions for both horizontal and vertical asymptotes, x and y-intercepts, and state the domain and range of each and where the function is increasing

Q. Yield curve - influence the rate of interest? The normal yield curve demonstrates that the yield required on debt increases in line with the term to maturity. One reason for

Q. Problems in computations of cost of retaining earning? Problems in computations of cost of retaining earning: it is sometimes argued that retained earning do not involve any

Government intervention The government might look for intervene in the take-over bid because of fears that the market share of the combined group would constitute a monopoly wh

Define a Convertible Bond A convertible bond issue permits the investor to exchange the bond for a pre-defined number of equity shares of the issuer.  The convertible bond’s fl

how would you judge the potential profit of bajaj electronics on the first year of sales to booth plastics and give your suggestion regarding credit limit.Should it be approved or

What are the benefits and drawbacks of financial hedging of the firm’s operating exposure vis-a-vis operational hedges (like relocating manufacturing site)? Answer:  Financial he

What is meant by the terms that an option is in-, at-, or out-of-the-money? Answer:  A call or put option with S t > E (E > S t ) is considered to as trading in-the-money.  If

Case Study based on Financial Statement Analysis of Hatsun Agro Private Limited 800x600 Normal 0 false false false EN-IN X-NONE X-NONE

A Ltd sells goods at Rs.10.P.U. Its variable cost Rs.7.P.U and fixed cost amount to Rs.1,70,000 it finances all its assets by equity funds. It pays 40% tax on its income. Z Ltd is