ASIC decisions: Your rights

ASIC makes many decisions about corporations, securities and financial products and services that might affect you. If we have made a decision that directly affects you, you may have rights connected with the decision. This information sheet sets out an overview of your rights and how to exercise them. You may have other rights in addition to those discussed here.

Note: Under certain circumstances ASIC can waive late lodgement fees. If your inquiry is about withdrawing a late lodgement fee, you can find more details in the information sheet, Fee waivers (INFO 87).

What can you find out from us?

Talk to us about the decision ASIC decision maker—If you need to clarify anything relating to the decision, you may find it helpful to discuss it with the ASIC staff member who made the decision.

Administrative Law Team—You can also contact the Senior Manager - Administrative Law Team by email to senior.manager.alt@asic.gov.au or by mail to:
      Senior Manager, Administrative Law Team
      Australian Securities & Investments Commission
      GPO Box 9827
      SYDNEY NSW 2001
The Senior Manager - Administrative Law Team can explain how to exercise the rights set out in this information sheet. It would be best to do this promptly because there is a 28-day time limit on some applications.
Get our reasons in writing If we have not told you why we made the decision when we notified you about it, you may be entitled to ask for a written statement of reasons.

How to apply
You must write to the person who made the decision within 28 days of being told about the decision.
Ask for access to other documents You may seek access to documents about the decision under the Freedom of Information Act 1982.

How to apply
You must apply to ASIC in writing stating clearly which documents you want to obtain. You may send your application by email to FOIrequest@asic.gov.au or by mail to:
      Senior Manager, Administrative Law Team
      Australian Securities & Investments Commission
      GPO Box 9827
      SYDNEY NSW 2001
Charges may be imposed for the time spent in searching for and retrieving relevant documents, decision-making time, photocopying and postage.

For more information contact the Administrative Law Team at FOIrequest@asic.gov.au.

 

Can you get an independent review?


You may have a right to seek review of the decision by the Administrative Appeals Tribunal (AAT). The AAT is an independent body which can review some of ASIC’s decisions. The AAT can, among other things:

  • confirm our decision;
  • vary our decision; or
  • set our decision aside and replace it with its own decision.

 

How to apply to the AAT

In writing You must apply to the AAT for review in writing. This can be done via letter or email. Alternatively, the AAT has an application form which you may choose to use. The AAT website contains further details on how to apply to the AAT for review of a decision.
In time You must apply for the review within 28 days of being told why the decision was made.
Pay the fee You must enclose the $884 application fee with your application.

If you want to apply for the application fee to be reduced or waived you can obtain the application form from the AAT.

We have also published Regulatory Guide 57 Notification of rights of review (RG 57) which gives more detail about your rights of review. You can also contact the Administrative Law Team to obtain a copy.

If you have any questions about the AAT's procedures and requirements, see www.aat.gov.au, call the AAT on 1300 366 700 or write to the AAT at GPO Box 9955 in your capital city.

If you are unhappy with how we handled your matter

Talk to us If you have a complaint about the way we have handled a matter, you may wish to bring your concerns to the attention of a more senior ASIC staff member than the officer with whom you have been dealing.
Take it further You may also have the right to complain to the Commonwealth Ombudsman. However, the Ombudsman usually prefers that you discuss your complaint with ASIC first. There is an office of the Commonwealth Ombudsman in each capital city: see your local White Pages. For further information call 1300 362 072 or visit www.ombudsman.gov.au.

Where can I get more information?

 

This is Information Sheet 9 (INFO 9) reissued July 2016. Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.

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Last updated: 17/11/2016 02:07