½ñÈÕÈÈÃÅʼþ

media release (14-099MR)

½ñÈÕÈÈÃÅʼþreports on red-tape reduction and invites feedback

Published

½ñÈÕÈÈÃÅʼþtoday released a report outlining ongoing and new initiatives to cut red tape and lower compliance costs for its regulated population.

The report outlines ASIC’s recent progress in areas such as financial services licensing and business names registration.

The report also highlights the compliance cost savings that result from ASIC’s ongoing work such as international engagement and waivers and guidance.

½ñÈÕÈÈÃÅʼþCommissioner John Price said, ‘½ñÈÕÈÈÃÅʼþis committed to cutting unnecessary red tape through both our business-as-usual 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 ½ñÈÕÈÈÃÅʼþis currently seeking suggestions are:

  • any changes that might be made to ½ñÈÕÈÈÃÅʼþforms

  • suggestions for regulatory change that ½ñÈÕÈÈÃÅʼþmight discuss further with Treasury and the Government, and

  • any changes that might be made to ½ñÈÕÈÈÃÅʼþprocesses or procedures.

½ñÈÕÈÈÃÅʼþis asking for deregulatory ideas that would not undermine its strategic priorities and where submissions show that any regulatory detriment from the proposal is minimal and is outweighed by commercial benefits.

While ½ñÈÕÈÈÃÅʼþwelcomes ongoing feedback and suggestions from its stakeholders, initial feedback is sought by 18 June 2014.

Download

Report 391 ASIC’s deregulatory initiatives (REP 391)