Submitted by: Submitted by Mikochan17
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Words: 2686
Pages: 11
Category: Business and Industry
Date Submitted: 10/05/2013 03:57 AM
October
17,
2012
CORPORATE
GOVERNANCE
ASSIGNMENT
Question
1
a).
The
Australian
Investments
function
is
to
make
sure
the
Australian
financial
markets
are
fairness
and
transparent.
The
Australian
Securities
and
Investments
Act
2001
(ASIC
Act)
has
provided
ASIC
a
number
of
enforcement
powers
to
carry
out
their
role,
which
includes:
1. Grant
Australian
financial
service
license
and
Australian
credit
license
ASIC
has
the
power
to
legalize
or
licensing
a
person
who
carries
on
financial
services
business.
It
is
aim
to
give
an
investor
a
confidentiality
to
deal
with
the
persons
who
are
legally
licensed
by
ASIC.
In
relation
to
the
license
that
provided
by
ASIC,
it
is
intended
to
ensure
the
financial
services
business
fulfill
their
obligation
according
to
the
standards
and
meet
the
public
prospect.
Then
this
will
help
ASIC
to
take
any
action
to
protect
the
investors
from
engaging
any
misconduct
that
possibly
occurs.
2. Investigate
any
suspect
breaches
of
law
and
require
the
company
books
at
the
examination
Under
the
ASIC
Act,
ASIC
has
the
power
to
examine
or
investigate
any
breaches
and
institute
civil
or
criminal
proceedings
being
committed.
The
breaches
can
be
involves
in
actions
against...