ASIC. 2.1 ASIC was established by section 7 of the Australian Securities and Investments Commission Act 1989 and is continued in existence by section 261 of the Australian Securities and Investments Commission Act 2001 (ASIC Act). ASIC is a regulatory and law enforcement agency for, company, financial services, markets and consumer credit laws, and has the function of monitoring and promoting market integrity and consumer protection in relation to the Australian financial system.
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Sources: Memorandum of Understanding, Memorandum of Understanding