Term

Meaning

AA Fund

Assetless Administration Fund

ABA

Australian Banking Association

ACCC

Australian Competition and Consumer Commission

AFCA

Australian Financial Complaints Authority

AFS licence

Australian financial services licence

ANZ

Australia and New Zealand Banking Group Limited

APEC

Asia–Pacific Economic Cooperation

APRA

Australian Prudential Regulation Authority

APRC

Asia–Pacific Regional Committee

APS

Australian Public Service

ARITA

Australian Restructuring, Insolvency and Turnaround Association

ASIC Act

Australian Securities and Investments Commission Act 2001

ASX

ASX Limited or the exchange market operated by ASX Limited

ATO

Australian Taxation Office

AUSTRAC

Australian Transaction Reports and Analysis Centre

buy now pay later

An arrangement that allows consumers to buy and receive goods and services immediately from a merchant, and repay the provider over time

CALD

Culturally and linguistically diverse

CAP

Consumer Advisory Panel

CBA

Commonwealth Bank of Australia

CCI

Consumer credit insurance

CDPP

Commonwealth Director of Public Prosecutions

CFDs

Contracts for difference

CFR

Council of Financial Regulators

CHESS

ASX Clearing House Electronic Subregister System

Corporate Plan

ASIC’s Corporate Plan 2019–23

Corporations Act

Corporations Act 2001

COVID-19 pandemic

Coronavirus disease caused by the SARS-CoV2 virus of 2019

CP

Consultation Paper

CPRs

Commonwealth Procurement Rules

CRF

Corporate Registers Forum

CRIS

Cost Recovery Implementation Statement

cyber resilience

An organisation’s ability to prepare for, respond to and recover from a cyber attack

DCM

Debt capital market

derivative

A financial instrument where the value is derived from an underlying asset, such as a share, commodity or index

DFAP

Digital Finance Advisory Panel

digital advice

The provision of automated financial product advice using algorithms and technology and without the direct involvement of a human adviser (also known as robo-advice or automated advice)

DIRRI

Declaration of Relevant Relationships and Declaration of Indemnities

EDR

External dispute resolution

EEGO

Energy Efficiency in Government Operations

ESA

Enforcement Special Account

ESD

Ecologically sustainable development

FASEA

Financial Advisers Standards and Ethics Authority

FDS

Fee disclosure statements

FFNS

Fee-for-no-service

FICC

Fixed income, currencies and commodities

financial capability

The combination of an individual’s attitude, knowledge, skills, confidence and ability to make sound financial decisions

FinCoNet

International Financial Consumer Protection Organisation

fintech

Financial technology

FOI Act

Freedom of Information Act 1982

FSCP

Financial Services and Credit Panel

FTE

Full-time equivalent

FX

Foreign exchange

GFIN

Global Financial Innovation Network

GST

Goods and services tax

IAIS

International Association of Insurance Supervisors

IDR

Internal dispute resolution

IFIAR

International Forum of Independent Audit Regulators

industry funding

A funding model whereby those who create the need for and benefit from ASIC’s regulation bear the costs. Entities pay a share of the costs to regulate their subsector through industry levies based on a range of business activity metrics.

INFO

Information Sheet

Innovation Hub

ASIC’s online hub providing tailored content for fintech businesses that are developing innovative financial products or services

Interim Corporate Plan

ASIC Interim Corporate Plan 2020–21: Strategic priorities responding to the impact of the COVID-19 pandemic

IOSCO

International Organization of Securities Commissions

IPO

Initial public offering

IS Code

Insurance in Superannuation Voluntary Code of Practice

IT

Information technology

KMP

Key management personnel

kWh

Kilowatt-hour, a measure of energy

LED

Light-emitting diode. A semiconductor device that converts electricity into light.

LGBTIQ+

Lesbian, gay, bisexual, trans, intersex and queer

LIBOR

London Inter-bank Offered Rate

MDP

Markets Disciplinary Panel

MJ

Megajoule, a unit of energy measurement

Moneysmart

ASIC’s consumer website

MOU

Memorandum of understanding

NAB

National Australia Bank

NAIDOC

National Aborigines and Islanders Day Observance Committee

National Credit Act

National Consumer Credit Protection Act 2009

OECD

Organisation for Economic Co-operation and Development

OJK

Otoritas Jasa Keuangan, the Indonesian Financial Services Authority

OTC

Over the counter

payday lending

Small-amount or short-term loans to individuals that generally attract significantly higher interest rates and costs than other types of loans

PGPA Act

Public Governance, Performance and Accountability Act 2013

PGPA Rule

Public Governance, Performance and Accountability Rule 2014

phoenix activity (illegal)

Transferring assets of an indebted company to a new company to avoid paying creditors, tax or other employee entitlements

Phoenix Taskforce

A cross-agency taskforce established by the Government in 2014, to combat illegal phoenix activity.

Public Service Act

Public Service Act 1999

PYSP measures

Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 and accompanying regulations

RAP

Reconciliation Action Plan

RBA

Reserve Bank of Australia

RE

Responsible entity

regtech

Regulatory technology; technology designed to address regulatory challenges in the financial services sector

Regulatory Transformation Program

ASIC’s program to increase efficiency by establishing a common language across ASIC, streamlining our regulatory business processes, making compliance and interaction with us easier through online portals, and implementing a single technology strategy

REP

Report

RG

Regulatory Guide

RN

Renewal notice

Royal Commission

Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry

SES

Senior Executive Service

SFCT

Serious Financial Crime Taskforce

SIS Act

Superannuation Industry (Supervision) Act 1993

SME

Small to medium enterprise

SMSF

Self-managed superannuation fund

suptech

Supervisory technology

TPD insurance

Total and permanent disability insurance