ASIC has released the evidence metrics it will use to report against the Federal Government’s Regulator Performance Framework.

In 2014, as part of its deregulation agenda, the Government developed a framework aimed at encouraging regulators to undertake their functions with the minimum impact necessary to achieve regulatory objectives. The initiative requires regulators to look at how they operate and the regulatory burden they create when administering regulation.

The framework is not intended to reduce regulation, or diminish regulatory outcomes; rather it aims to achieve the same regulatory outcomes, with lower regulatory burden.

The metrics released reflect feedback from ASIC’s stakeholder consultation mechanism under the framework.

ASIC will collect data and evidence to support assessment against the framework over the 2015-16 financial year. In accordance with the framework, ASIC’s self-assessment will be externally validated and published in the second half of 2016.

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Regulator Performance Framework: ASIC evidence metrics

Report 441 Response to submissions on ASIC’s Regulator Performance Framework evidence metrics (REP 441)

The non-confidential submissions to our stakeholder consultation