ASIC sets 3% indigenous staff target
The Australian Securities and Investments Commission (ASIC) has set itself a target of interviewing a minimum of 4% Aboriginal and Torres Strait applicants of jobs within the regulator.
ASIC has outlined the target as part of its new three-year Reconciliation Action Plan – the fifth if has implemented.
The regulator has set 1 January, 2026, to achieve the target subject to quarterly reviews over the three year period.
ASIC said it also wanted to increase the per centage of Aboriginal and Torres Strait Islander team members at ASIC from a baseline of 1.44% to a target of 3% of all ASIC team members.
It also sets the objective of having Aboriginal and Torres Strait Island team members seeing themselves stating with the regulator for at least four years, and ultimately achieving a retention rate the same as non-indigenous team members.
It said that as at 30 June, last year, ASIC’s indigenous team members retention rate was 78.37%, slightly below ASIC’s overall retention rate of 87.23%.
How about a target for unbiased and competent staff? I think the 3% target for this would also be an increase on the current percentage.
Should make it 100%.
A good career path. You start out on $80,000 working your way up and by year 5 you’re working at ABC Super with your mates on $350,000.
ASIC Staffer: “I’ve a couple of questions Mr Super fund CEO”…
Super fund CEO: “Before we start, I notice your attention to detail and we need people like you. Is it possible you speak to HR first about our new role in compliance. It comes with a car and generous allowances”.
ASIC Staff: I’ve spoken with HR, and I don’t have questions now, so I think I’ll just duck over to Dover and or chase some other Advisers”
To be fair Dover was a bit of a dumpster fire
sure was…..I wasn’t with Dover but AMP lied to ASIC 22 times, got a dodgy Fee Disclosure process to prevent opt in being triggered, and fee for no service and they’re still here. Big wallets solve problems.