What does the Australian Securities and Investments Commission (ASIC) aim to achieve?

The Australian Securities and Investments Commission (ASIC) focuses on enhancing the integrity and transparency of financial markets in Australia. Its primary objective is to protect investors and consumers by minimizing fraud and unfair practices in financial transactions and products. This role is crucial for maintaining investor confidence and ensuring that financial systems operate smoothly and efficiently.

ASIC conducts various activities to achieve these goals, such as monitoring financial services, enforcing compliance with financial laws, and providing education and guidance to consumers and businesses. By reducing fraud and creating a fair marketplace, ASIC supports a stable economy and promotes trust in the financial system.

In contrasting this with the other choices, it is clear that options implying the promotion of fraud, elimination of competition, or control over stock prices do not align with ASIC's mission or functions. Each of these choices misrepresents the role of ASIC, which actively works to foster a fair and equitable financial environment for all market participants.