ASIC's regulatory powers – search warrants, telecommunications interception warrants, financial services licensing decisions and banning orders – suggested reforms

Middleton, Thomas (2021) ASIC's regulatory powers – search warrants, telecommunications interception warrants, financial services licensing decisions and banning orders – suggested reforms. Company and Securities Law Journal, 38 (3). pp. 179-196.

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Abstract

This article discusses the reforms introduced by the Financial Sector Reform (Hayne Royal Commission Response – Stronger Regulators (2019 Measures)) Act 2020 (Cth), including the reforms relating to: the Australian Securities and Investments Commission's (ASIC's) search warrant powers; ASIC’s ability to access telecommunications interception warrant material; and the new "fit and proper person" test in relation to ASIC's decisions under the Corporations Act 2001 (Cth) about whether to grant, suspend or cancel an Australian Financial Services Licence and whether to make banning orders. This article examines whether these reforms have harmonised the regulatory framework, and whether they have assisted ASIC to achieve its public interest regulatory objectives in s 1(2) of the Australian Securities and Investments Commission Act 2001 (Cth).

Item ID: 67929
Item Type: Article (Research - C1)
ISSN: 0729-2775
Copyright Information: © 2021 Thomson Reuters (Professional) Australia Limited for further information visit www.thomsonreuters.com.auor send an email to care.anz@tr.com.
Date Deposited: 23 Jun 2021 02:23
FoR Codes: 48 LAW AND LEGAL STUDIES > 4801 Commercial law > 480103 Corporations and associations law @ 100%
SEO Codes: 23 LAW, POLITICS AND COMMUNITY SERVICES > 2304 Justice and the law > 230404 Law enforcement @ 50%
23 LAW, POLITICS AND COMMUNITY SERVICES > 2304 Justice and the law > 230405 Law reform @ 50%
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