Our role in dealing with ASIC regulatory decisions

A person can complain to ASIC that a company or person has breached the laws ASIC administers. ASIC calls these complaints ‘reports of misconduct’. For example, some people complain about the actions of company directors or the actions of liquidators.

If a person disagrees with ASIC’s response to a complaint, they should contact ASIC first to discuss the decision. If they remain dissatisfied, they can then complain to the Commonwealth Ombudsman. Our role is to form a view about whether ASIC’s decision was open to it to make under the laws it administers, including the Australian Securities and Investments Commission Act 2001 and the Corporations Act 2001. We also consider whether, in handling the report of misconduct, ASIC treated the person fairly.

Our Office policy

ASIC’s website contains information about how it deals with reports of misconduct: http://asic.gov.au/about-asic/contact-us/how-to-complain/how-asic-deals-with-reports-of-misconduct/. The Ombudsman’s Office acknowledges that ASIC is not obliged to investigate every report it receives. The law permits ASIC to be selective about the matters it decides to take action on.

We will carefully consider each complaint we receive. When we assess your complaint, we will speak with you about your complaint and consider all the information you provide. We will also consider what we know about ASIC’s regulatory powers and functions, including the above link on how it makes decisions. We may investigate if we think ASIC’s decision, or handling of the matter, was unreasonable or wrong. We will always explain our decisions and actions to you.

Factsheet- Dealing with ASIC's regulatory decisions (PDF)