The Australian Securities and Investments Commission (ASIC) and Department of Jobs and Small Business have signed a memorandum of understanding to foster closer co-operation.

“This agreement acknowledges the benefits obtained from sharing information and resources, while maintaining proper information and privacy protections,” ASIC Commissioner John Price said.

“This formal arrangement will allow ASIC and [the department] to engage more co-operatively in administering programs that assist employees affected by company insolvencies.”