Is ASIC sufficiently accountable for its administrative decisions? A question of review

Whether there are adequate legislative safeguards against the possible abuse by the Australian Securities and Investments Commission (ASIC) of its discretionary powers in monitoring and enforcing compliance with corporations law application of a framework of merits review to four administrative sanctions or quasi-penalties that ASIC is currently authorised to impose argument that there is a need for greater accountability and transparency in the exercise of ASIC s discretionary powers.