The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's authority and scope are determined by the Australian Securities and Investments Commission Act 2001. ASIC, which reports to the Treasurer, is responsible for the administering the following legislation: Australian Securities and Investments Commission Act 2001 (ASIC Act) Business Names Registration Act 2011 Corporations Act 2001 (Corporations Act) Insurance Contracts Act 1984 National Consumer Credit Protection Act 2009 (National Credit Act) Additionally, ASIC is also responsible for administering parts of the following legislation: Banking Act 1959 Life Insurance Act 1995 Medical Idemnity (Prudential Supervision and Product Standards) Act 2003 Retirement Savings Accounts Act 1997 Superannuation (Resolution of Complaints) Act 1993 Superannuation Industry (Supervision) Act 1993 (SIS Act). ASIC registers ASIC maintains Australia's company and business name registers, which can be searched online. The types of organisations that can be searched online include companies, registered bodies, foreign companies, associations, managed investment schemes and non-registered entities. The information that is available includes current and/or historical information about the organisation, including past addresses, previous directors, and former names, as well as the organisation's unique identification number (ABN, ACN, ARBN, ARSN), type of company or organisation (e.g., proprietary company, limited by shares), date it was registered, the next review date, location of registered office (town or suburb only), and any professional licences or registrations (e.g. an Australian financial services licence or credit licence). History ASIC was originally formed as the Australian Securities Commission (ASC), established on 1 January 1991 by the (then) ASC Act 1989. The purpose of ASC was to unify corporate regulators around Australia by replacing the National Companies and Securities Commission and the Corporate Affairs offices of the states and territories. The corporate regulator became the Australian Securities and Investments Commission (ASIC) on 1 July 1998, when it also became responsible for consumer protection in superannuation, insurance and deposit taking. It has since gained further responsibilities: in 2002 for credit, the Australian Stock Exchange in 2009, and Chi-X in 2011. Criticisms In 2012, ASIC called for powers to use data which had been intercepted by other intelligence agencies. In recent times ASIC has become the subject of criticism