The Regulator Performance Framework (RPF) provides six common key performance indicators (KPIs) for Australian Government Regulators that cover reducing regulatory burden, communication, risk-based and proportionate approaches, efficient and coordinated monitoring, transparency and continuous improvement of regulatory frameworks. As part of the RPF external validation process, ASIC invites stakeholders to provide feedback on its self-assessment of its performance against the KPIs over the assessment period.
As raised in our previous submissions on the RPF, we consider it predominantly focuses on activities and outputs but not the outcomes or impacts. We further note that the outcomes reported do not describe how ASIC's performance against the six KPI measures contributes to its vision and mission. We have also taken the opportunity to share feedback we have received from members about their experience engaging directly with ASIC in 2018-19.