Corporate Governance

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...