The financial authority that has responsibility for the protection of consumers, investors and creditors in Australia is:
A)the Reserve Bank of Australia
B)the Australian Prudential Regulation Authority
C)the Australian Securities and Investments Commission
D)the Australian Treasury
E)the Council of Financial Regulators.

Question

Quizplus · Accepted Answer

The Australian Securities and Investments Commission (ASIC) is the financial authority that specifically has responsibility for the protection of consumers, investors and creditors in Australia. The Reserve Bank of Australia, the Australian Prudential Regulation Authority, the Australian Treasury, and the Council of Financial Regulators all have roles in overseeing and regulating aspects of the financial system, but they do not have the same focus on consumer protections as ASIC.

The Financial Authority That Has Responsibility for the Protection of Consumers