What is the role of ASIC? Which of the following is correct?

ASIC regulates both companies and the securities industry in Australia. It also monitors and regulates parts of the financial sector

ASIC does not intervene in the financial sector. Only APRA has the ability to regulate the financial institutions within Australia

ASIC has an overlapping role with APRA, particularly in ensuring the consumer protection provisions as they relate to misleading information issued by financial institutions

ASIC answers to APRA in how it applies its powers concerning companies, particularly those situated in the financial sector