A presentation by ASIC Commissioner, Belinda Gibson, to the Committee for Economic Development of Australia (CEDA), 8 July 2008, Sydney
Introduction
Thank you for the opportunity to speak to you about improving confidence in the integrity of Australia's capital markets and about ASIC's Capital Markets Taskforce. I will also speak about the ASIC Strategic Review, as the work done by the Task Force has informed some of the changes that the Review proposes.
The Taskforce was established in November 2007 when I joined ASIC. Its mandate was to review ASIC's record in the enforcement of the markets abuse offences, and to design a strategy to improve our performance in that area.
In this presentation today I would like first to review briefly what market integrity is and why it matters, and what ASIC can do to improve market confidence. I will then outline some of the achievements of the Taskforce in the last 6 months. I will then turn to the ASIC Strategic Review and provide a broad outline of the main projects that the Taskforce has identified for the next 12 months for improvement of market integrity.