High cost of putting writing on the wall for ASIC

Outsider is prepared to bet that when the team at the Australian Securities and Investments Commission (ASIC) were ticking off their 2018 unfinished business list just before Christmas, they thought it possible that no-one would notice a particular response to a question on notice from the Joint Parliamentary Committee on Corporations and Financial Services.

I mean the question, directed at the regulator’s chairman, James Shipton, was asked on a Friday in mid-October and involved something very mundane – graphic design and the ASIC logo. Providing the answer on 27 November would surely go unnoticed.

Sadly, for Shipton and the ASIC team, someone noticed. Because apparently the cost of changing the font on the ASIC logo is up there with changing a light bulb on the international space station and delivered the regulator some not very sympathetic publicity.

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Stage 1 – Creative development - $43,426 (ex GST) for:

  • Assessment of current visual identity and branded materials;
  • New visual identity guidelines; 
  • Updated brandmark.

Stage 2 – Design and asset development - $59,480.00 (ex GST) for:

  • Electronic and print stationery templates (noting existing printed stationery stocks are to be used up);
  • Updated ASIC banners;
  • New Microsoft Office templates;
  • Corporate digital and social media assets;
  • Corporate website homepage design updates;
  • Set of standardised icons for use in reports, social media and online.

Stage 3 – Web design update - $2,790.00 (ex GST) for:

  • Updating of asic.gov.au website homepage and templates.
  • Outsider asked Money Management's graphic designer and international man of mystery, Henry, to undertake the same exercise.
  • Stage 1 – OK, boss
  • Stage 2 – 15 minutes later - Finished
  • Cost – a long black.

Dear Mr Shipton, Henry is busy right now.

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