Australian Securities and Investments Commission (ASIC)
The Australian Securities and Investments Commission (ASIC) is an independent body that enforces corporation and consumer law. ASIC ensures that consumers are protected and treated properly when they purchase and use financial products and services.
They aim to reduce or eliminate bad financial practices, unfair treatment and fraud. ASIC is responsible for rules, regulations, monitoring and guidance in several areas including:
- Corporate governance
- Financial services
- Securities and derivatives
- Insurance
- Consumer protection
- Financial literacy
Currency exchange and money transfer providers that are based in Australia are regulated by ASIC.
ASIC is a financial regulatory authority.
Australian Securities and Investments Commission (ASIC) — Related terms
ASIC is related to the Financial Intelligence Unit (AUSTRAC).
The Monito Glossary
When it comes to moving money, don't let yourself be bogged down by all the jargon. Explore The Monito Glossary to get up to speed with everything you need to know about money transfers.
Other Popular Money Transfer Definitions
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