The Corporations Act 2001 (Cth) ("Corporations Act") serves as the main framework law in Australia for the regulation of corporations and financial services providers. ASIC is responsible for the administration of the Corporations Act.

Other key pieces of legislation include the Banking Act 1959 (Cth) ("Banking Act"), Banking Regulations 1966 (Cth), Reserve Bank Act 1959 (Cth), Australian Prudential Regulation Authority Act 1998 (Cth), Australian Securities and Investments Commission Act 2001 (Cth), Financial Services Reform Act 2001 (Cth), Financial Sector (Shareholdings) Act 1998 (Cth), National Consumer Credit Protection Act 2010 (Cth), Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) ("AML/CTF Act"), and state fair trading and consumer protection acts.

In addition to legislation, both ASIC and APRA issue regulatory and policy statements, as well as information sheets that provide guidance to regulated entities on how legislation applies and should be interpreted. In particular, ASIC focuses on the Corporations Act and gives frequent updates to provide practical guidance on its expectations and policy objectives with respect to compliance with the law.