ASIC capability review
The Financial System Inquiry recommended that the financial regulators undergo periodic capability reviews to ensure that they have the skills and culture to be effective in an environment of rapid change. In July 2015, ASIC became the first regulator to undergo a review. The ultimate goal of the ASIC Capability Review was to ensure that ASIC had the skills and culture to effectively fulfil the enhanced role which the FSI had laid out for ASIC in its report.
ASIC welcomes the Government’s response to the final report of the ASIC Capability Review.
This review of ASIC’s organisational capability is particularly timely. The rapid pace of change in the financial system dictates that we regularly re-assess the capabilities we need to meet future objectives and challenges. We are committed to developing our ability to improve outcomes for Australian consumers and investors, and to facilitate fair and efficient financial markets.