Recently, Australia's Financial Regulator Assessment Authority (FRAA) revealed a broad-ranging scope for its first review into the Australian Securities and Investment Commission’s (ASIC). The regulator said it would look into all of ASIC’s core competencies, from the way it prioritizes investigations and its strategic planning, decision-making, surveillance capabilities and licensing, to the technology and data it uses.
“The FRAA’s first review will be a targeted assessment of ASIC’s effectiveness and capability in strategic prioritization, planning and decision-making, ASIC’s surveillance function, and ASIC’s licensing function,” it said in a statement from Federal Treasurer Josh Frydenberg. “The first review will also examine ASIC’s use of data and technology in each of these areas of focus.”
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