The Australian Securities and Investments Commission's (ASIC) enforcement resources were assured last week as the Federal Government backed down from a commitment to trim the regulator's budget.

Last year, a Labor submission to federal Treasury identified a number of potential spending cuts including a $111 million deduction from ASIC coffers.

But Corporate Law Minister Nick Sherry told a Senate estimates committee last week that circumstances have changed.

"ASIC's special enforcement account will not be cut in 2007/08 or 2008/09," an adviser for Senator Sherry told insuranceNEWS.com.au.

Surveillance funding resources are also expected to remain untouched.