Australian Securities and Investments Commission Act 2001 (Cth)

The Australian Securities and Investments Commission Act 2001 (Cth) (‘the ASIC Act’) sets down the structure, functions and powers of the body partially responsible for regulating the corporate and financial system in Australia, the ‘ASIC’.

Among other things, the ASIC is charged with administering laws of the Commonwealth, states and territories which aim to ensure that corporations and the financial system comply with those rules, and are both transparent and accountable.

The organisation’s overriding objective is ostensibly to enhance and protect the integrity of the corporate and financial systems.

The ASIC Act provides the ASIC with broad compulsory information-gathering powers, including the power to compel the disclosure of documents and information, and to have witnesses attend hearings and give evidence.

It prescribes both civil and criminal penalties for those who contravene these requirements, which can include fines as well as prison sentences.

The team at Sydney Criminal Lawyers are vastly experienced in advising and representing companies under investigation by the ASIC, as well as those charged with offences under the Act.

We regularly assist companies in dealing with situations that can impede or jeopardise their operations, by advising on regulatory and information requirements, working to meet those requirements (whether or not there have been failures to comply) and working with the ASIC to overcome difficult situations and help our clients move forward in doing what they are best at.

Due to our vast experience and expertise in criminal law, we are able to not only manage these situations for our clients but to dramatically reduce the prospects of criminal charges being brought.

Where charges are brought, our experience is unparalleled in having them withdrawn, downgraded or dismissed.

So call us anytime on (02) 9261 8881 and let us reduce the stress associated with an ASIC investigation.

Or click below for information about the Act, including the rules with which companies and their directors are required to comply, the ASIC’s powers, potential offences and applicable penalties.