On 20 April 2016, the Government announced that it would introduce an industry funding model for ASIC, commencing in the second half of 2017.
The ASIC Supervisory Cost Recovery Levy Regulations 2017 which came into effect from 1 July 2017 have now been passed which provide the final details.
ASIC has also released Report 535 – ASIC cost recovery arrangements: 2017-18, which outlines ASIC’s cost recovery framework and provides an overview of the changes to ASIC’s cost recovery arrangements since the federal government released its Proposed industry funding model for the Australian Securities and Investments Commission in November 2016.
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