ASIC has launched a website dedicated to investors in the failed Storm Financial group.
The website will include information on the progress of ASIC's investigations and outcomes of any commercial resolutions.
The regulator has already held confidential discussions with former Storm clients and is working with a number of groups to see if an appropriate commercial resolution can be reached.
"ASIC has been helping former Storm clients experiencing financial distress who have contacted our Infoline service by providing information to them directly," according to the new website.
The website includes general information about the investigations. Former Storm clients can have access to a password protected personal web page.
In the future the personal web page will include information about any legal action undertaken to recover lost money on behalf of Storm investors. The website will also include a hypothetical snapshot of funds that potentially may be returned to Storm investors.
ASIC will contact eligible Storm investors this month about the website.
The launch of the website follows informal discussions between ASIC and members of the Storm Investors Consumer Action Group (SICAG) over its Storm investigation.
In a letter to members, SICAG joint chairmen Mark Weir and Noel O'Brien said an informal "meet and greet" was held with committee members and ASIC chair Tony D'Aloisio and ASIC chief legal officer Michael Kingston on 29 March.
The meeting was in direct response to the corporate regulator's circular regarding the next phase of its Storm investigation.
The regulator had assured SICAG that it would be consulted with regards to any negotiations and questions around compensation arrangements.
SICAG had urged its members to consider possible compensation packages.
"We encourage all members to devote some time to identifying some answers to this question, so that when ASIC have their secure website up and running, you might be asked to comment," the letter said.
Storm Financial closed its doors in January 2009.
