Treasury is seeking submissions on the Australian Securities and Investments Commission’s (ASIC) capabilities.

It is part of a review that was recommended during the Financial System Inquiry.

The assessment will consider how efficiently and effectively ASIC operates to meet its strategic objectives.

It will look at immediate and future priorities and risks, including financial system conduct risks, plus resources, responsiveness to emerging issues and staff skills.

Treasury says the capability review is not a backwards-looking performance assessment.

“It will assess ASIC’s ability to meet future regulatory challenges and seek to ensure it is equipped with the capabilities – the leadership, strategy, people and processes – needed to deliver on its remit for the benefit of consumers,” a Treasury statement says.

Submissions close on Wednesday next week. The review panel is due to report by the end of this year.