Key points
- ASIC has released our 2021-22 annual dashboard outlining our regulatory costs by sector and subsector under the industry funding model (IFM).
- We have also published details about the variance between our estimated and actual costs by subsector.
- 2021-22 levies under the IFM are based on our actual regulatory costs for each subsector and invoices for these levies will be issued to entities between January and March 2023.
ASIC has published an annual dashboard containing our regulatory costs for 2021-22 by activity for each sector and subsector under the IFM. This is a requirement under s138 of the Australian Securities and Investments Commission Act 2001. These costs are calculated at the end of each financial year and are based on the actual effort we expend for each sector and subsector.
Previously, we provided information about the variances between our estimated and actual costs for subsectors for the previous year in our annual Cost Recovery Implementation Statement (CRIS). This year, we are publishing this information with the annual dashboard to ensure it is provided to regulated entities at the time we first report our actual regulatory costs. Our estimated costs were published in our 2021-22 CRIS.
Our 2021-22 levies are based on our actual regulatory costs for each subsector. Our 2021-22 industry funding levies by subsector were tabled and published on 28 November on the Regulatory costs and levies webpage. Invoices for these levies will be issued to entities between January and March 2023.
For more information about the IFM, visit ASIC industry funding.
Review of ASIC’s industry funding model
On 8 August 2022, the Australian Government announced that Treasury is undertaking a review of ASIC’s industry funding model in consultation with the Department of Finance and ASIC (see Treasury’s website for the announcement). ASIC continues to work with Treasury and the Government on the review.
ASIC is Australia’s corporate, markets and financial services regulator.