Important Things To Know About ASIC archiving

person holding smartphone

ASIC archiving is very important in ensuring compliance with regulatory requirements for mobile communication capture, retention and monitoring. Australian Securities and Investments Commission (ASIC) is Australia’s corporate, markets, financial services as well as consumer credit regulator. This body has a number of regulatory tools that help them address the harms that threaten good investor and consumer outcomes. Among these tools are enforcement action, engagement with industry and other stakeholders, supervision and surveillance, guidance, education as well as policy advice.

For most of the issues in their remit, ASIC uses a number of the above-mentioned tools to achieve the best possible outcomes. Among the things that they do include supervising entities on an ongoing basis, commissioning reports, undertaking risk-based surveillances that target specific incidents or transactions, and also enforcing the law. This body has a threat, harm and behavior framework that identifies regulatory risks in the market to inform the strategic priorities in their corporate plan. This helps them to prioritize enforcement as well as other regulatory actions targeting particular harms to consumers, investors, and markets.

The Australian Securities and Investments Commission has guidance on the capturing of voice calls, instant messaging as well as other mobile communications while financial employees are working from home using mobile devices, especially right now that we are faced with the COVID-19 pandemic. Employers are supposed to adhere to their existing policies for staff working remotely and the use of mobile devices. Company owners need to make sure that the policies are changed to reflect the current conditions – ensure they do not introduce any undue compliance, conduct or operational risk. Most importantly, they are supposed to record conversations concerning client instructions and orders given by phone.

For more information on ASIC archiving,  visit our website at