Should ASIC be split to ensure better corporate regulation?
The Economy, Stupid
Reassessing ASIC: The Case for Specialized Regulators
This chapter explores the limitations faced by the Australian Securities and Investments Commission (ASIC) in terms of resources and legal representation, inhibiting its effectiveness in corporate regulation. It discusses the proposal to split ASIC into three distinct regulators to enhance focus on corporate oversight, consumer protection, and compliance amidst ongoing challenges in the financial sector. The speakers critique the government's inaction on ASIC reform and emphasize that restructuring alone won't address the deeper cultural issues within the organization.
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