The Australian Securities and Investments Commission (ASIC) has just released a booklet which aims to help small business operators with compliance obligations.
ASIC Commissioner Greg Tanzer said the booklet is the in a series of new tools and resources which are being developed to make compliance a less daunting task for small business operators.
“We understand that people who operate small businesses are busy and may not have access to resources such as legal advice to help them understand and manage their obligations”, Tanzer said.
“Compliance is also about more than just obeying laws, it’s about good business. It provides small businesses and consumers with certainty that they can transact with other businesses in an environment that is fair and transparent,” he added.
The booklet, ‘Your obligations as a small business operator’ covers key topics such as:
- ASIC’s regulatory role and functions;
- Types of business structures regulated by ASIC;
- Responsibilities for managing businesses under a company or business name structure; and
- Obligations under key ASIC-related laws.
The release of the booklet follows ASIC’s National Small Business Survey last year and consultation with other regulatory agencies, small business associations and business advisers.
A copy of the booklet is available here.
