What is an ASIC interview?

• ASIC has powers where they can ask any person to come for an interview if they suspect that they can help them in their investigation.
• This is a very broad power that means that ASIC can request a company director, an employee, accountants, lawyers and other staff to come to a compulsory interview to ask questions. In some cases they may request a family member to attend a meeting if they believe they have information that will assist such as someone’s wife, husband or partner.

• An ASIC interview is compulsory. You are required to answer their questions and there are offences for failing to comply or for providing misleading information.
• There are very few legal reasons you can give for not answering all their questions at the interview.
  • Legal professional privilege is the main reason you could give. This has a very specific meaning in the law.
  • You should speak to a lawyer about this if you think it may apply in your situation.
• You can have a lawyer attend the interview with you.