ASIC Spent $100,000 For 'New' Logo

The old ASIC logo can’t come to the phone right now.

The Australian Securities & Investments Commission has a new logo, and it looks a touch like its old logo.

The ABC reported that ASIC began work on its new design back in 2017 in the weeks following the announcement of the Banking Royal Commission.

It’s been almost a year and a half but the creative agency tasked with coming up with the new logo, Folk, have absolutely delivered on the promise of creating a logo that says “Strong. Accountable. Firm/fair. Finger-on-the-pulse. Contemporary.”

The old logo simply had a large square with blue Tetris-y pieces that read to a lot of people as “not firm or fair” but this new logo has that same square but now it’s slightly smaller and that changes everything. Nothing says ‘contemporary’ quite like a logo being slightly smaller.

According to the ABC $43,000 was spent on the creative development of the new logo and $60,000 was spent on the design and asset development. Forty-three thousand dollars sounds like a lot of money to be spent on conversations that may have involved sentences like “what about a different font?” and “yeah, let’s try a different font.” But the results clearly speak for themselves.

The problem with all of this is that this “new logo” is that it has dropped after the Royal Commission slammed ASIC for being toothless against the corporate misconduct that resulted in banks charging fees to dead customers and pushed customers that couldn’t afford it into purchasing more expensive products. It further suggests to people that ASIC may have their priorities wrong.

This new strong, accountable, finger-on-the-pulse logo is going to get them a lot of press, and that’s the sort of coverage you can only get when you shell out $100,000 for what looks like a half hour photoshop job.