ASC Survey of its Performance as a Regulator, Year Ending April 1998 -->
B. User Requirements, Survey Objectives, and Budget
B1 Purpose of survey
Why do you need to conduct a survey? (B1)
Note. Refers to the underlying information requirements that the survey is intended to address. For example, what problems the agency is trying to solve? What decisions need to be made? What specific policies or actions are being determined or assessed? Should detail who requires the information.
The Australian Securities and Investments Commission (ASIC) is interested in the stakeholder/customer satisfaction with the outcomes and execution of ASIC programs within its regulatory end enforcement functions. Specifically, this collection will be trying to assess any shifts in customer satisfaction, as well as movements in attitudes towards the ASIC's roles and overall performance as a regulator in light of:
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- Changes that the ASIC has made in its programs and resource allocation, in pursuit of the objectives and strategies outlined in the ASIC's strategic plan.
- Changes that are occurring in the regulatory environment
- Changes that may have occurred in the market place over the two years since the 1996 study.
Additionally, the ASIC is interested in the perceptions about the last year or so of ASIC activity in relation to the areas of major market place problems.
How will the survey meet this need? That is, what are the objectives of the survey in terms of content and constraints? (B2)
Note. "Content" refers to the topics the survey will cover. If applicable, "constraints" may include: fixed costs, fixed sample size, fixed accuracy (eg target RSEs), etc.
The main issues for the 1998 tracking survey needs to include establishing the effect that the ASIC has had in at least four main areas that have received major ASIC effort:
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- Enforcement Managed funds
- Public relation and use of various media in market communications.
Trustee companies are to be excluded from the collection as this category of customers is being taken over by funds managers.
The collection will produce a number of quantitative indicators and use these to measure the success of specific aspects of its key result areas.
Specific outcomes of the collection will be :
- Determine perceptions of current levels of ASIC performance, and ASIC customer satisfaction levels, among professionals who interface with the ASIC.
- Determine perceptions of current levels of ASIC performance against previously measured customer perceptions
- Identify the main marketplace problems which ASIC customers would like the ASIC to be focussing its attention upon
- Determine the extent to which the market place perceives the ASIC to have changed its approach in addressing these major problems.
- Determine how effective the ASIC's regulatory outcomes are perceived to have been in the last year or so, and the extent to which the ASIC is fulfilling its role in addressing the above points.
- Obtain a detailed understanding of how effective the ASIC's regulatory outcomes and activities are seen to be in areas in which the ASIC has made substantial changes in its approach in recent times.
- Determine the main needs of new customers of the ASIC in terms of the main regulatory challenges seen, the manner in which the new markets would like to see the regulator approach its task, and the key success measures it would like to see the ASIC adopt in assessing its own performance in coming years.
The ASIC is only interested for this particular work, on those who have ongoing dealings with the ASIC.
What is the timetable for the survey? (B3)
Note. Should include: testing, the date data collection commences, the date data collection finishes, and when results will be available.
The project should take around twelve weeks to complete:
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- 2 weeks for development of qualitative study
- 3 weeks for field work qualitative study
- 1 week for the analysis of the workshop
- 1 week for the review of the workshop
- 3 weeks for quantitative data gathering and EDP analysis.
- 2 weeks for analysis and report writing.
The result of the survey should be available by end May 1998.