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QUESTION ON NOTICE

Question:

14 November 2022

ASIC held a forum which occurred last week on 3-4 November 2022. I note that ticket prices for the forum this year was more than $AUD 2,000 per ticket. 1. Do you think it is appropriate that ASIC is giving access to the big end of town to its senior leadership at a price point which is inaccessible to mum and dad retail investors? Does ASIC concede that mum and dad retail investors who may wish want to engage with ASIC’s executive leadership don’t have $AUD 2,000 to spend on a ticket? 2. Are events such as the ASIC Forum opportunities for ASIC’s senior leadership to be captured by the big end of town? 3. Can ASIC confirm whether anyone from the Office of Enforcement attended the ASIC Forum? If so, is it appropriate that ASIC’s law enforcement staff attend an expensive event with people that they may investigate at some point in the future?

Answer:

Question Number: 66
PDR Number: SBE066
Date Submitted: 14/11/2022
Department or Body: Australian Securities and Investment Commission

1. The ASIC Annual Forum is a platform that enables ASIC to engage with the community and industry. Attendees of the Annual Forum include consumer groups, academics, financial services firms and business, media, major law and accounting firms, industry associations, government, stock exchanges, as well as attendees from both international and domestic regulators, including ASIC staff. The Annual Forum is not specifically designed as a way for consumers and retail investors to engage with ASIC, though consumer advocates do participate in the Annual Forum as delegates.

2. The ASIC Annual Forum is a public, transparent event. 3. A limited number of ASIC enforcement staff attended this year’s Annual Forum. ASIC seeks to ensure that people under investigation are not invited as speakers at the Annual Forum.

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