Jenny McAllister (NSW, Australian Labor Party, Shadow Cabinet Secretary) Share this | Hansard source

Minister, you will be aware that in other forums we have had ongoing discussions with ASIC about its resources. There was a significant collapse in the resources available to ASIC over time and it is engaged in a process, as I understand it, of retooling. It has some additional resources but is, at least as has been reported into estimates, increasing its emphasis on enforcement and investigation activity. I'd like to understand the impact of this regime on ASIC and its operations and, in particular, what the annualised cost of implementing the legislation is projected to be?