ASIC’s 2014-15 Strategic Outlook highlights the key challenges ASIC sees to the market it regulates and how it will respond using its surveillance and enforcement tools. Specifically, ASIC has identified risks around balancing a free market-based system and consumer protection, digital disruption, structural changes in Australia’s financial system, innovation-driven complexity and globalisation.
Some of the key challenges ASIC sees in 2014-15 are outlined in its Strategic Outlook for 2014-15 and include:
- the balance between a free market-based system and investor and financial consumer protection;
- digital disruption in Australia’s financial services and markets;
- structural change in Australia’s financial system through growth of market-based financing, which is largely driven by growth in superannuation;
- financial innovation-driven complexity in products, markets and technology; and
- the impact of globalisation on our financial markets.
In responding to these challenges, ASIC seeks to achieve its strategic priorities of:
- promoting investor and financial consumer trust and confidence;
- ensuring fair, orderly and transparent markets; and
- providing efficient and accessible registration.
ASIC has also indicated that next financial year, it plans to build on its Strategic Outlook initiative and publish a detailed Risk Outlook and Strategic Plan.
See the media release dated 20 October 2014.