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Conference Papers

The Australian Securities Commission and the prevention of fraud

Stephen Menzies

Published in:
Complex commercial fraud : proceedings of a conference held 20-23 August 1991
Peter N Grabosky (ed)
ISBN 0 642 16992 6 ; ISSN 1034-5086
(AIC Conference Proceedings; no. 10)

Abstract

The Australian Securities Commission's (ASC) law enforcement goal is to develop a deterrent net against contraventions of the Corporations Law, with investigation of all serious breaches. The ASC aims to: investigate serious offences with the intention of seeking all appropriate prosecutions and civil remedies; investigate takeovers where it is suspected that there occurred unacceptable circumstances or any market manipulation; and establish a deterrence program for the purpose of creating an environment of compliance through the processes of education, audit, disciplinary action and prosecution. Enforcement priorities and policies are outlined to encourage debate.