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ARTICLE · 24 OCTOBER 2008

ASIC Strategic Review Results In Restructure

Cooper Grace Ward
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Corporate watchdog ASIC is set to be restructured following a strategic review by an independent consulting group.

AustraliaEmployment and HR
David Grace
David Grace
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Corporate watchdog ASIC is set to be restructured following a strategic review by an independent consulting group.

Completed in May this year, the ASIC Strategic Review drew on the opinions of 1250 stakeholders in a bid to streamline ASIC's structure going forward. Input was sought from business, consumers and ASIC staff.

On releasing the findings, ASIC Chairman Mr Tony D'Aloisio commented,

"The review will result in us being closer to the market, we will be more accessible and flexible, and we will be able to take emerging trends into account more quickly."

This perhaps echoes calls from business for ASIC to be more reflexive to changing markets. As ASIC's recent prohibition on short-selling shows, being in touch with the marketplace is vital for ASIC in successfully putting its regulatory function into effect.

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