Senator the Hon Nick Sherry, Minister for Superannuation and Corporate Law, has today welcomed the outcomes of the strategic review announced by the Australian Securities and Investments Commission (ASIC).
The review was announced in May last year following the appointment of Mr Tony D'Aloisio as ASIC Chairman.
"The Government has been working closely with the regulators since coming to office, and throughout the more recent period of market volatility," said Minister Sherry.
"I believe the important operational reforms ASIC has announced today will bring its activities closer to the market, making it more flexible and better positioned to manage current and emerging issues and to robustly enforce the law."
"The Government will continue to take action to ensure our regulators are supported by best-practice legislative frameworks, such as legislating to require the full disclosure of covered short selling.
"I support the market regulator as it works through the forthcoming implementation of the review with its stakeholders and staff," said Minister Sherry.