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18-260MR ASIC’s Corporate Plan 2018-2022
ASIC today published its Corporate Plan for 2018–19 to 2021–22.
The Corporate Plan articulates ASIC’s updated vision, mission and our strategic plan to achieve them.
We are working to provide a fair, strong and efficient financial system for all Australians.
Underpinning this vision is the recognition that every dollar in the financial system is other people’s money.
To realise this vision, our mission is to use all our regulatory tools to:
- change behaviour to drive good consumer and investor outcomes,
- act against misconduct to maintain trust and integrity in the financial system,
- promote strong and innovative development of the financial system, and
- help Australians to be in control of their financial lives.
In this year’s Corporate Plan, we outline:
- our strategic planning framework, including our new ‘threat, harm and behaviour’ framework to better identify and prioritise action against actual and potential harms to consumers and investors. Some of the biggest threats come out of poor culture and professionalism, poor governance and incentives and practices that target financially vulnerable consumers;
- the environmental trends and the challenges we face in fulfilling our vision;
- core focus areas, likely to cause the most significant harms to consumers and investors;
- specific regulatory actions we will take this financial year and over the medium term;
- how we will strengthen our capabilities as an organisation committed to upholding our core values of accountability, professionalism and teamwork; and
- how we will measure and evaluate our performance.
ASIC Chair James Shipton said, ‘ASIC expects financial sector firms to adopt a culture of professionalism from the very top of the organisation right through to the frontline in order to win back community trust. Equally, it is important for ASIC to demonstrate professional values and to be held to account.’