This assignment provides an overview of key regulatory bodies in Australia, including the Australian Competition and Consumer Commission (ACCC), the Australian Securities and Investments Commission (ASIC), and the Reserve Bank of Australia (RBA), detailing their respective roles and responsibilities. The ACCC is responsible for enforcing competition and consumer laws, ASIC regulates companies and financial markets, and the RBA manages monetary policy and financial stability. Furthermore, the assignment outlines the basic principles of the law of torts, focusing on negligence and negligent misstatements. It defines torts as wrongful acts leading to civil action, and negligence as a failure to exercise reasonable care. The assignment breaks down the elements needed to establish negligence, including duty of care, breach of duty, causation of loss or injury, and the concept of negligent misstatement, emphasizing the importance of fault, actual damage, and remedy in tort law.