world-first
I think we found that ASIC's not quite fit for today and it wasn't fit for the future. There were some areas where ASIC does punch above its weight: market surveillance. And there are some areas where ASIC did need to lift its game: data analysis and enforcement.

So it was a world-first in terms of actually doing a capability review of a regulator and measuring the expectations gaps. So I guess I would view our report has having probably a longer shelf life than some others might think
what is the "world-first" mean? thank you

Question

world-first
I think we found that ASIC's not quite fit for today and it wasn't fit for the future. There were some areas where ASIC does punch above its weight: market surveillance. And there are some areas where ASIC did need to lift its game: data analysis and enforcement.

So it was a world-first in terms of actually doing a capability review of a regulator and measuring the expectations gaps. So I guess I would view our report has having probably a longer shelf life than some others might think
what is the "world-first" mean? thank you

Answer

EDIT: 
World first could mean the world's only/newest of it's kind
OR
It's ranked #1 in the world

I think they mean the world's only / newest of it's kind because they've mentioned a timeline. 
"Not quite fit for today and it wasn't fit for the future. "

Answers · 2

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