Speak up on how ASIC can reduce red tape

by AB08 May 2014
ASIC is asking for your feedback on how it can improve its regulations to try and cut through red tape.
Yesterday it released a report outlining ongoing and new initiatives to cut red tape and lower compliance costs for the businesses and people it regulates.

The report outlines ASIC’s recent progress in areas such as financial services licensing and business names registration and highlights the compliance cost savings that result from ongoing work such as international engagement and waivers.

ASIC commissioner John Price said ASIC is “committed to cutting unnecessary red tape” through usual business work and specific deregulatory initiatives.

“We invite feedback from businesses and individuals about the effectiveness of the measures we have adopted and, importantly, what further actions or initiatives can be taken.”

The specific areas in which ASIC is currently seeking suggestions are any changes that might be made to ASIC forms, suggestions for regulatory change that ASIC could discuss with the government, and any changes that might be made to ASIC procedures.

ASIC is asking for deregulatory ideas 18 June that would not undermine strategic priorities, and for the submission to prove any regulatory detriment is minimal and is outweighed by commercial benefits.


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