ASIC releases information sheet on information-gathering powers

ASIC has issued Information Sheet 145, ASIC’s compulsory information-gathering powers . The document explains why it needs information-gathering powers, what abilities it has and how it uses them. It also sets out the differences between the various powers, and also the rights and responsibilities of companies or individuals that are required to produce documents or disclose information, attend an examination, or provide assistance with an examination. It also details the consequences of failure to comply with an ASIC notice.  Please click here to view a copy of the Information Sheet, released by CSA New Update 14 September 2011.