ASIC charging for investigation

Under Section 91 of the Australian Securities and Investments Commission Act 2001, ASIC has statutory powers to recover costs for investigations where possible. This applies to all individuals and entities (defendants) subject to an ASIC investigation after 29 July 2015.

What are the charges?

In circumstances where a defendant is convicted or a judgement is made in favour of an ASIC investigation, ASIC is able to make an order which requires the defendant to reimburse ASIC's investigative expenses.

The types of expenses ASIC may claim include:

• salary costs for ASIC staff who have worked on the investigation;
• travel expenses when required to interview witnesses;
• the cost of external legal counsel; or