ASIC service charter results: 2007-08
The ASIC service charter sets out the most common interactions we have with you and how quickly you can expect us to respond to your phone calls, complaints, requests or applications.
We will continue to report on our service charter results each year.
Service charter results
Below are our performance results for the 2007-08 and 2006-07 financial year:
Service |
Service charter target |
2007-08 performance |
2006-07 performance |
---|---|---|---|
General phone queries |
We aim to answer your telephone queries on the spot |
95.3% of calls answered on the spot (627,351 of 657,067) 4.7% (29,716 calls) referred to specialist staff |
94% of calls answered on the spot (630,856 of 670,755 5.9% (39,899 calls) referred to specialist staff |
General email queries |
We aim to reply within 2 business days to queries sent to www.asic.gov.au/question. |
98.3% replied to in 2 business days (51,272 of 52,185) |
80% replied to in 2 business days (23,091 of 29,057) |
General correspondence |
We aim to acknowledge receipt of general correspondence within 14 days of receiving it, and give a full response within 28 days: |
||
General correspondence to Public Information Program about our public database and registers, including fee waivers |
90.3% fully responded to within 28 days(45,823 of 50,723) |
95% fully responded to within 28 days (52,796 of 55,734) |
|
Correspondence received by our Correspondence Control Unit |
100%acknowledged within 14 days (540 letters) 77% responded to within 28 days (444 of 574 letters) |
100%acknowledged within 14 days (656 letters) 71%responded to within 28 days (470 of 661 letters) |
|
Registering a company |
We aim to complete company incorporations within 1 business day of receiving a complete application |
98% in total (150,078 of 153,172) 96.7% of paper forms completed in 1 day (21,363 of 22,114) 98.2% of electronic forms completed in 1 day (128,715 of 131,058) |
97% in total (156,522 of 161,673) 86.7% of paper forms completed in 1 day (21,959 of 25,320) 98.7% of electronic forms completed in 1 day (134,563 of 136,353) |
Updating company information and status |
We aim to enter critical changes to company information in the corporate register within 2 business days |
95.3%(1,034,726 of 1,085,602) 84.4% of paper forms (245,675 of 291,084) in 2 business days 99.3% of electronic forms in 2 business days (789,051 of 794,518) |
92%(960,636 of 1,050,260) 71.5% of paper forms (214,296 of 299,908) in 2 business days 99.5% of electronic forms entered in 2 business days (746,340 of 750,352) |
Registering as an auditor |
We aim to decide whether to register a person as an auditor within 28 days of receiving a complete application |
100% registered within 28 days (112 individual applications and 18 authorised audit companies) |
100%registered within 28 days (112 individual applications and 18 authorised audit companies) |
Registering as a liquidator |
We aim to decide whether to register a person as a liquidator or official liquidator within 28 days of receiving a complete application |
Liquidators: 73% decided within 28 days (16 of 22 applications) Official liquidators: 89%decided within 28 days (25 of 28 applications) |
Liquidators: 83% decided within 28 days (15 of 18 applications) Official liquidators: 83% decided within 28 days (24 of 29 applications) |
Registering a managed investment scheme |
By law, we must register a managed investment scheme within 14 days of receiving a complete application |
99% registered within 14 days (512 of 519) |
95%registered in 14 days (583 of 616) |
Applying for or varying an AFS licence |
We aim to decide whether to grant or vary an Australian financial services licence within 28 days of receiving a complete application |
Granting a licence: 67%decided in 28 days (272 of 404 applications)Varying a licence: 75%decided in 28 days (654 of 874 applications) This result is for all applications, including those where we did not initially receive all the information we needed to make a decision |
Granting a licence: 65%decided in 28 days (310 of 474 applications)Varying a licence:71%decided in 28 days (503 of 709 applications) This result is for all applications, including those where we did not initially receive all the information we needed to make a decision |
Applying for an Australian market licence |
We aim to give the Minister our recommendation about simple applications to operate financial markets within 12 weeks of receiving an application |
N/A (no recommendations to Minister made in this period) |
100% to Minister within 12 weeks (3 applications) |
Applying for relief |
If you lodge an application for relief from the Corporations Act that does not raise new policy issues, we aim to give you an in principle decision within 21 days of receiving all necessary information and fees |
71% of in principle decisions made within 21 days (2,188 of 3,101 applications) This result is for all applications, including those where we did not initially receive all the information we needed to make a decision |
74% of in principle decisions made within 21 days (2278 of 3062 applications). This result is for all applications, including those where we did not initially receive all the information we needed to make a decision |
Complaints about misconduct by a company or individual |
If you make a complaint about the activities of a company or individual, we aim to respond to you within 28 days of receiving all relevant information |
78% finalised within 28 days (8,880 of 11,436) |
81% finalised within 28 days (8,620 of 10,681) |
Service charter results 2013-14
Service charter results 2012-13
Service charter results 2011-12
Service charter results 2010-11
Service charter results 2009-10