find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
ASIC a budget winner

ASIC a budget winner

The Government has signaled its commitment to a more vigilant stance on company regulation as a result of the global financial crisis, allocating the Australian Securities and Investments…

The Government has signaled its commitment to a more vigilant stance on company regulation as a result of the global financial crisis, allocating the Australian Securities and Investments Commission (ASIC) $81.9 million dollars over the next four years in the Federal Budget.

ASIC fees and charges will also increase. From the 2010-11 financial year, ASIC fees and charges will be indexed in line with the consumer price index (CPI). This will result in a return of $84.3 million over the three years to 2012-2013.

The Government said the funding boost will to enable ASIC to engage additional "frontline resources" to perform both new and existing enforcement and monitoring activities.

"It is essential to have a properly resourced regulator to ensure maximum investor protection and market integrity, particularly amid this global recession which is impacting businesses in different ways," Minister Sherry said in a statement accompanying the announcement.

ASIC will also receive $18.7 million in funding for the in 2010-11 financial year to compensate for the strain on its resources arising from the global financial crisis. An additional $5 million has also been allocated to assist with an increase in demand for policy advice from the regulator in 2010-11.

- Laura MacIntyre

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

ASIC a budget winner
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Applauds
07:00
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Mentoring
07:00
Top-tier offers targeted mentoring for Indigenous law students
Students at Macquarie University will be the first to benefit from a new Indigenous mentoring progra...
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...