THE Australian Securities and Investments Commission has signed an agreement formalising information exchanges with the Western Australian Department of Consumer and Employment Protection.
The agreement is also expected to result in more effective and efficient investigations at both the State and federal levels.
ASIC regional commissioner in WA Michael Gething said DOCEP and the commission would be able to share and obtain information from each other with greater ease should they believe a company had breached legislation relating to the other organisation.
"It also means investigations may be moved between State and Commonwealth jurisdictions to achieve a more appropriate outcome," he said.
The memorandum of understanding extends the areas within DOCEP that ASIC will be able to work with, now including Consumer Protection, WorkSafe, Labour Relations and Energy Safety.
"ASIC and the Consumer Protection division of DOCEP developed an excellent working relationship under the framework of the previous MOU," Mr Gething said.