The Australian Securities and Investments Commission has said it will investigate the reasons why Dick Smith failed.

The revelation came during the ASIC Annual Forum, which began on Monday, when questions were put to ASIC's top executives chairman Greg Medcraft and commissioners Peter Kell, Cathie Armour, John Price and Greg Tanzer, Commissioner, ASIC.

ASIC chairman Greg Medcraft told the forum there was an issue in terms of "administered trust and confidence".

Key figures in the Dick Smith drama will face a public grilling later this year. Jessica Hromas

"We will investigate and we will look to identify some answers," Mr Medcraft said.

Dick Smith went into receivership earlier in January, owing about $400 million to creditors after pre-Christmas sales failed to raise cash needed to keep the business going.