Who chooses a company's sector?

Can anyone point me to information about how companies are classified into sectors, and who does it?

Just realised ASIC would be a good place to start looking so I'll go there. Any other ideas?

Thanks

Ghoti

Yes, the ASX will have the classification. The acronym for the system is GICS (it was implemented recently if I recall correctly?) Global Industry Classification Standard. There must be a link or something under that heading.... okay went to the asx site and found the link to S&P and the GICS info.

http://www.asx.com.au/asx/statistics/indexInfo.jsp

There are a few booklets with the relevant info at the Standard&Poor's site.

I bet you've found this out already!