The Australian Securities and Investments Commission (ASIC) and the Western Australian Department of Consumer and Employment Protection have signed a memorandum of understanding (MOU) to give enforcement agencies in WA more powers to protect investors and consumers.

The MOU is expected to facilitate more effective and efficient action on investigations at state and Commonwealth levels.

ASIC Regional Commissioner in WA Michael Gething says the organisations will be able to share and obtain information from each other with greater ease if they believe that a company has breached legislation relating to the other organisation.