%T ASIC to be funded by companies it regulates
%A Peter Ryan
%A Josh Frydenberg


%I ABC Radio World Today
%D 2015

%K Financial services industry, %K Self-regulation, %K Investments



%U https://apo.org.au/node/56958

%X The corporate watchdog ASIC (Australian Securities and Investments Commission) is set for a major overhaul that could see it funded by the very companies it regulates.
In a consultation paper released today, the Australian Securities and Investments Commission, suggests ASIC could be bankrolled according to a company's market value and an assessment of its risk.
At present, ASIC is funded by the taxpayer.
The Federal Government says the user-pays model would make ASIC a more effective regulator.
%9 Audio interview