ASIC expectation of private service providers

Where private services providers interact with our customers, we expect that they operate transparently, fairly and honestly in their business practices.

Below is a list of practices that we expect private service providers to adopt:

Clearly explain who you are

  • Set out your name, Australian Business Number (ABN) and contact details on your communications such as letters and website. Your contact details should include your principal business address.
  • You should ensure customers understand they are not interacting directly with ASIC.

Set out your fees

  • Ensure that information given to customers about fees clearly show the separate fees for fees charged by ASIC and any service fees.

Be honest

  • Only offer to provide a service that you are capable of providing at the time. For example, you cannot renew a business name registration earlier than 2 months before the expiry date, therefore you must not mislead a customer into thinking you can renew the registration earlier.

Keep records

  • Ensure you have written consent from customers prior making to change any contact information on ASIC records.

Do not use marketing that may mislead customers

  • Use accurate and lawful marketing and promotion of your services.
  • Make sure marketing products do not confuse customers into thinking they are dealing with a government agency.
  • Do not operate under a business name that may make customers think ASIC endorses or authorises your services. For example, you must not use words such as ‘ASIC’ or ‘Business Name’ in your business name.
  • Ensure that the words or images that you use do not suggest that you are authorised or endorsed by ASIC.

Deal with customer disputes fairly

  • Do your best to resolve customer disputes. 

Related links

What is an ASIC key?

Your ASIC key is a unique number used in ASIC Connect that helps us establish your identity and protects your business information by making sure only you and those you have authorised can access it.

Learn more about ASIC keys

What is a corporate key?

A corporate key is an 8-digit number uniquely associated with a company’s ACN. Your company needs only one corporate key.

Learn more about corporate keys

What is an invitation key?

An invitation key is a unique key to register for, or connect to an entity in, the ASIC Regulatory Portal.

Learn more about invitation keys 

What is an industry funding security key?

Your industry funding security key is a unique number used to launch an online transaction in the ASIC Regulatory Portal that will enable us to calculate your final industry funding invoice. You will be prompted to submit business activity metric information on the operation of your business in the previous financial year.

Learn more about industry funding security keys

Last updated: 01/07/2020 01:02