Australian Securities and Investments Commission (ASIC) The Australian Securities and Investments Commission (ASIC) is the authority responsible for the administration and enforcement of Australian company law, and is known as ‘ASIC’. A foreign entity that carries on business in Australia must be registered with ASIC. The point at which a foreign business is carrying on business is a question of fact, but generally the appointment of a selling agent or establishment of a branch in Australia would require registration.