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ASIC's approach to enforcement , ASIC show a detailed flow-chart...
ASIC's approach to enforcement, ASIC show a detailed flow-chart diagram of their approach to enforcement. Provide brief examples as
to the potential monitoring/surveillance work that could be undertaken by a
government regulator like ASIC in relation to the Australian financial markets /
securities exchanges. That is, how and by what methods could regulators effectively monitor financial markets/securities exchanges?
Image transcription text
ASIC'S APPROACH TO ENFORCEMENT
Figure 1:
ASIC's approach to enforcement
Member of public
Monitoring/
Referral from
Report to ASIC as
reports misconduct
surveillance work
other regulator
required by law
Does the potential misconduct fall within our regulatory responsibility?
YES
NO
Referral to other authority
as appropriate
Assessment of matter
What is the extent of harm or loss?
. What are benefits of pursuing the misconduct, relative to
the expense?
How do other issues, like the type and seriousness of the
misconduct and the evidence available, affect the matter?
. Is there an alternative course of action?
NO
Should a formal investigation be held?
YES
NO
Did the investigation find suspected misconduct?
YES
Other regulatory tools may
be more effective (e.g.
surveillance or stakeholder
engagement)
Assessment of appropriate remedy
What is the nature and seriousness of the misconduct?
What was the post-misconduct behaviour of the offender?
What is the strength of the case?
What impact will the remedy have on:
the person or entity?
-
the regulated population?
the public?
Are there any mitigating factors?
What are the appropriate remedies?
Punitive
Protective
Preservative
Corrective
Compensation
Negotiated resolution
Answer & Explanation
Solved by verified expertAnswered by kamenekalola on coursehero.com
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