The Australian Securities and Investments Commission (“ASIC”) is Australia’s corporate, markets, financial services and consumer credit regulator.
ASIC also performs the function of corporate policeman, by investigating offences under various Acts, including the Australian Securities and Investment Commission Act, Corporations Act, and National Consumer Credit Protection Act, to name a few.
ASIC investigators work closely with federal Prosecutors employed by the Office of the Commonwealth Director of Public Prosecutions.
ASIC has far-reaching powers for matters where they have jurisdiction to investigate and promote a prosecution.
One of the powers most exercised is the compulsory examination of a person, for instance under s.19 of the ASIC Act, or s.253 National Consumer Credit Protection Act, with both of these pieces of legislation it is crucial to know the powers of ASIC and technique of the interview process. Both Acts also provides protections against self-incrimination; however, it is important to know there are very real limits to this protection.
An experienced lawyer will be able to confidently represent your interests, will know when and, importantly, if there can step in to provide protection from certain questions. If you have been approached by ASIC and you would like assistance to understand your options, J Sutton Associates, have NSW Law Society recognised Accredited Specialists in criminal law, with decades of experience acting for people appearing before ASIC. Call 02 8080 8055 for personalised advice and service.
This section of the website will examine both procedural and offence sections. It is important to remember this section is not an exhaustive list of ASIC powers of offence legislation but will provide you with sound guidance in the area.