RG 126 Compensation and insurance arrangements for AFS licensees (reissued)

RG 138 Foreign passport funds (reissued)

RG 175 AFS Licensing: AFS Financial product advisers–Conduct and disclosure (reissued)

RG 246 Conflicted and other banned remuneration (reissued)

INFO 141 Dealing and providing custodial or depository service as secondary service (reissued)

INFO 228 Limited AFS licensees: Advice conduct and disclosure obligations (reissued)

INFO 266 FAQs: Records of Advice (ROAs) (reissued)

INFO 267 Tips for giving limited advice (reissued)

INFO 274 Tips for giving self-managed superannuation fund advice (reissued)

INFO 291 FAQs: FSGs and website disclosure information (new)

INFO 292 FAQs: Informed consents for insurance commissions (new)

New and updated regulatory guidance in response to reforms under the Treasury Laws Amendments (Delivering Better Financial Outcomes and Other Measures) Act 2024 (DBFO Act).

ASIC releases new and updated guidance in response to the DBFO Act (news item)

INFO 286 FAQs: Ongoing fee arrangements and consents (new 4/10/2024)

INFO 287 FAQs: Non-ongoing fee requests or consents (new 4/10/2024)

ASIC Corporations (Amendment) Instrument 2024/809

Open letter to CEOs of superannuation trustees (PDF)

Urges CEOs of superannuation trustees to assess their death benefit claims handling practices and address any identified deficiencies.

INFO 230 Exchange traded products: Admission guidelines (updated)

Minor updates to clarify guidance on product labels and naming considerations for exchange traded products, including clarifying the rationale behind the labels and guidance in relation to the ‘Complex’ label.

ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2024/821

ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2024/822

Specifies:

• ASIC’s regulatory costs and their attribution to each industry sub-sector, and
• certain matters about size and composition of ASIC’s regulated population and of the metrics that apply to each industry sub-sector within that regulated population,

under ASIC's industry funding model for the 2023–24 financial year.

ASIC Superannuation (Notice of disqualification—Ryan McGrath) Instrument 2024/836

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

CP 380 Sustainability reporting 

Seeks stakeholder feedback on a draft regulatory guide covering the sustainability reporting regime commencing on 1 January 2025.

This includes whether any ASIC legislative instruments that grant relief in relation to financial reporting or audit requirements should be extended to sustainability reporting and any other areas where ASIC should support the introduction of the sustainability reporting regime.

Submissions close 19 December 2024.

24-247MR ASIC seeks feedback on proposed guidance on sustainability reporting regime

REP 800 Insights from the reportable situations regime: July 2023 to June 2024

ASIC’s third publication of the information we have received under the reportable situations regime. It provides high-level insights into the trends observed in reports lodged by licensees under the regime between 1 July 2023 and 30 June 2024.

ASIC releases third publication on insights from the reportable situations regime (news item)

REP 799 ASIC’s oversight of financial reporting and audit 2023–24

Summarises findings from our financial reporting and audit surveillances and other complementary work for the period 1 July 2023 to 30 June 2024. It highlights areas where the quality of financial reporting and audits can be improved.

24-240MR ASIC releases FY 2023–24 financial reporting and audit report and launches auditor independence surveillance

REP 798 Beware the gap: Governance arrangements in the face of AI innovation

Outlines the key findings from an ASIC review into how 23 AFS licensees and credit licensees are using and planning to use artificial intelligence, how they are identifying and mitigating associated consumer risks, and their governance arrangements.

RG 26 Resignation, removal and replacement of auditors (reissued)

INFO 62 Removal of an auditor of a company (reissued)

INFO 64 Resignation and removal of auditors of registered scheme financial report or a compliance plan (reissued)

INFO 65 Resignation of an auditor of a public company (reissued)

INFO 136 Complying with your trust account obligations as a credit licensee (reissued)

INFO 288 Resignation and removal of auditors of registrable superannuation entities (new)

INFO 289 Resignation and removal of auditors of retail CCIV financial reports and compliance plans (new)

INFO 290 Resignation and removal of auditors of Australian financial services (new)

Updates to RG 26 reflect expanded obligations applying in relation to registrable superannuation entities (RSEs) and retail corporate collective investment vehicles (retail CCIVs).

Updates have been provided in relevant information sheets for companies, registered schemes and credit licensee (INFO 62, 64, 65 and 136), and new information sheets have been released for RSEs, retail CCIVs and AFS licensees (INFO 288, 289 and 290).

ASIC Corporations (Amendment) Instrument 2024/809

Amends ASIC Corporations (Financial Services Guides) Instrument 2015/541 to provide that a providing entity can make available website disclosure information instead of giving a Financial Services Guide (FSG) to a client if the financial service is dealing in a financial product for the purposes of implementing financial product advice that the providing entity provided to the client.

ASIC Annual Report 2022–2023

Highlights a range of key regulatory and enforcement outcomes in 2023–24 focused on protecting consumers, reducing costs for businesses, and strengthening capabilities.

CS 11 Proposed updates to RG 51 and RG 108

Proposes updating Regulatory Guide 51 Applications for relief (RG 51) and Regulatory Guide 108 No-action letters (RG 108) to ensure the currency of our guidance.

Submissions close 18 November 2024.

RG 251 Derivative transaction reporting (reissued)

Reissued to reflect the commencement of the ASIC Derivative Transaction Rules (Reporting) 2024 on 21 October 2024.

RG 277 Consumer remediation (updated)

Minor updates including updates of the name of a sunset class order to its new legislative instrument title.

ASIC Superannuation (Notice of disqualification—Joseph Badawy) Instrument 2024/823

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

INFO 152 Public comment on ASIC's regulatory activities (updated)

INFO 275 Infringement notices: Your rights (updated)

Updated to reflect the transition to the Administrative Review Tribunal (ART).

ASIC Market Integrity Rules (Amendment) Instrument 2024/774

Updates references in the following rulebooks to reflect the transition to the Administrative Review Tribunal (ART):

• ASIC Market Integrity Rules (Capital) 2021
• ASIC Market Integrity Rules (Futures Markets) 2017
• ASIC Market Integrity Rules (IMB Market) 2010
• ASIC Market Integrity Rules (Securities Markets) 2017

INFO 9 ASIC decisions: Your rights (updated)

INFO 248 Enhanced regulatory sandbox (updated)

INFO 250 Giving AFS and credit licensees information about their representatives (updated)

INFO 270 Warnings and reprimands (updated)

INFO 273 FSCP decisions: Your rights (updated)

RG 263 Financial Services and Credit Panel (updated)

Updated to reflect the transition to the Administrative Review Tribunal (ART).

REP 797 Licensing and professional registration activities: 2024 update 

Provides the latest information on registration and licence applications from the 2023-24 financial year and key changes to licensing processes, to help current and prospective Australian financial services (AFS) and credit licensees understand the licensing regime.

ASIC Corporations (Amendment) Instrument 2024/806

Amends ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251 and ASIC Corporations (Group Purchasing Bodies) Instrument 2018/751 to reflect the transition to the Administrative Review Tribunal (ART).

INFO 286 FAQs: Ongoing fee arrangements and consents (new)

INFO 287 FAQs: Non-ongoing fee requests or consents (new)

Provides new guidance for financial advisers who will need to, on or after 10 January 2025, get:

• a client’s written consent to enter into or renew an ongoing fee arrangement, or
  
• a client’s written request or consent to charge non-ongoing fees to that client’s superannuation account.
  

INFO 256 FAQs: Ongoing fee arrangements

INFO 280 FAQs: Non-ongoing fee consents

INFO 256 FAQs: Ongoing fee arrangements (reissued)

INFO 280 FAQs: Non-ongoing fee consents (reissued)

Minor changes to specify INFO 256 and INFO 280 will continue to provide guidance for financial advisers who need to get a client’s written consent before 10 January 2025.

INFO 286 FAQs: Ongoing fee arrangements and consents

INFO 287 FAQs: Non-ongoing fee requests or consents

RG 258 Registered liquidators: Registration, ongoing obligations, disciplinary actions and insurance requirements (reissued)

REP 796 Response to submissions on CP 376—Updates to RG 258 and supporting documents and templates

Updated RG 258 reflects reforms to the corporate insolvency legislative framework in 2021, ASIC’s experience in administering the regime, various Administrative Appeals Tribunal decisions and industry feedback.

REP 796 highlights the key issues raised during the consultation and details ASIC’s responses to those issues.

ASIC publishes updated regulatory guidance for registered liquidators (news item)

ASIC consults on registered liquidator registration guidance (news item)

Guide to personal and resource capacities (PDF 335 KB)

Senior level employment history form (Word 113 KB)

RG 236 Do I need an AFS licence to participate in carbon markets? (reissued)

Updated regulatory guidance for carbon market participants to:

• address the safeguard mechanism reforms that commenced on 1 July 2023; and
  
• reflect changes to the Australian Carbon Credit Unit (ACCU) Scheme that have occurred since RG 236 was last re-issued in May 2015.
  

FMSB Consultation Agreement extension 

Two-year extension of ASIC's consultation agreement with the Financial Markets Standards Board (FMSB) to 25 September 2026.

ASIC Corporations (Amendment) Instrument 2024/618

Amends ASIC Corporations (Employee redundancy funds relief) Instrument 2015/1150 to:

• extend the relief provided to employee redundancy funds for 18 months until 1 April 2026; and
  
• insert a new condition that a person who relies on the relief must notify ASIC by the later of 31 October or one month after the day the person first relies on the relief.
  

ASIC extends relief for employee redundancy funds (news item)

CS 9 Proposed extension of employee redundancy funds relief

ASIC Corporations and Credit (Repeal) Instrument 2024/507

ASIC Corporations (Record-Keeping Requirements for Australian Financial Services Licensees when Giving Personal Advice) Instrument 2024/508

ASIC Corporations and Credit (Breach Reporting—Reportable Situations) Instrument 2024/620

Extend requirements and relief provided under ASIC Corporations and Credit (Breach Reporting—Reportable Situations) Instrument 2021/716, ASIC Credit (Breach Reporting—Prescribed Commonwealth Legislation) Instrument 2021/801, and Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when giving personal advice.

ASIC extends reportable situations relief and personal advice record keeping requirements (news item)

RG 121 Doing financial services business in Australia (reissued)

Technical updates to ensure currency and provide clarity, including amending descriptions of Australian financial services licensing exemptions and relief, and updating the description of the Courts’ interpretation of ‘carrying on a business in Australia'.

ASIC Superannuation (Notice of Disqualification—Vjekoslav Fak) Instrument 2024/756

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

Letter to market participants regarding technological and operational resilience (PDF 276 KB)

Outlines technological and operational resilience guidance for financial market participants, clarifying how to identify critical business services and notification of a major event.

ASIC Corporations (Amendment) Instrument 2024/733

Amends ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603 to ensure the default rate of inflation used to calculate present values reflects the current long-term forecast of nominal wage inflation.

REP 795 Design and distribution obligations: Compliance with the reasonable steps obligation

RG 274 Product design and distribution obligations (reissued)

Sets out the findings of ASIC's surveillance of 19 issuers of high-risk investment, insurance and credit products between October 2023 and August 2024.

RG 274 has been reissued to reflect the findings in REP 795.

24-200MR ASIC calls on product issuers to review distribution practices for DDO compliance

Attachment to RG 274: Summary of changes—September 2024 (PDF 274 KB)

ASIC Prescribed Trade Repositories Determination (Repeals) Instrument 2024/606

Repeals:

• ASIC Prescribed Trade Repositories Determination [15/0591]
• ASIC Prescribed Trade Repositories Determination [19/325]

REP 794 ASIC enforcement and regulatory update: January to June 2024

Provides an overview of ASIC’s work and key matters between 1 January and 30 June 2024.

ASIC Derivative Transaction Rules (Nexus Derivatives Repeal) Instrument 2024/602

ASIC Derivative Transaction Rules (Nexus Derivatives) Instrument 2024/603

Replaces ASIC Derivative Transaction Rules (Nexus Derivatives) Class Exemption 2015 which was due to sunset on 1 April 2025 to effectively continue its provisions until the Nexus Test under the ASIC Derivative Transaction Rules (Reporting) 2024 commences.

ASIC Corporations (Repeal) Instrument 2024/604

ASIC Regulated Foreign Markets Determination (Amendment) Instrument 2024/605

Repeals instruments whose purposes are no longer consistent with, or supported by, the ASIC Derivative Transaction Rules (Reporting) 2024 from 21 October 2024.

Amended: ASIC Regulated Foreign Markets Determination 2023/346 

Repealed: ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2015/844

RG 16 External administrators and controllers: Reporting of possible offences and misconduct (reissued - new title)

REP 793 Response to submissions on CP 377 Guidance for reporting by external administrators and controllers

Updated regulatory guidance for external administrators and controllers when reporting and lodging statutory reports about alleged misconduct.

REP 793 highlights the key issues that arose out of the submissions received on Consultation Paper 377 Guidance for reporting by external administrators and controllers: Updates to RG 16 (CP 377) and details our responses to those issues.

ASIC Market Integrity Rules (Securities Markets) Determination 2024/723

ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2024/724

Maintains ASIC's policy of determining the allocation of Equity Market Products to tiers.

Replaces ASIC Market Integrity Rules (Securities Markets) Determination 2024/459 (repealed 4 October 2024).

ASIC Corporations (CCIV Auditors) Instrument 2024/668

Amends section 1232R of the Corporations Act to confirm that, consistent with the obligation on a responsible entity, a corporate director of a retail CCIV must lodge a notice in the approved form (Form 5230) with ASIC within 14 days of appointing an auditor of a retail CCIV.

ASIC Superannuation (Notification of variation of disqualification order—Kylie Ai Wui Wee) Instrument 2024/708

SMSF auditor disqualification variation under section 130F(6) of the Superannuation Industry (Supervision) Act 1993.

REP 791 ASIC’s interventions on greenwashing misconduct: 2023–2024

Outlines ASIC’s regulatory interventions made between 1 April 2023 and 30 June 2024 in relation to concerns about greenwashing claims and summarises the high-level findings, key recommendations and good practice examples identified from ASIC’s greenwashing surveillance activities during the financial year 2023–2024.

Corporate Plan 2024–2025

Outlines ASIC's strategic priorities for the next four years and its plan of action for the year ahead.

ASIC Derivative Transaction Rules (Reporting and Clearing) Amendment Instrument 2024/416

REP 792 Response to submissions on CP 375 Proposed changes to the ASIC Derivative Transaction Rules (Reporting): Third consultation

Instrument 2024/416 amends:

• ASIC Derivative Transaction Rules (Reporting) 2024 to address outstanding policy matters about reporting rule changes introduced in earlier public consultations, address other minor and administrative amendments to data elements, align with other major jurisdictions, and correct prior errors and omissions, and
• ASIC Derivative Transaction Rules (Clearing) 2015 to make consequential and administrative changes.

REP 792 highlights the key issues that arose out of the submissions received on Consultation Paper 375 Proposed changes to the ASIC Derivative Transaction Rules (Reporting): Third consultation (CP 375) and details our responses to those issues.

ASIC’s Financial Services Industry Workshop – 19 June 2024 | Summary Document

Summary document of a virtual workshop highlighting a range of approaches for providing accessible and effective engagement channels through in-person services in remote First Nations communities under ASIC's Indigenous Financial Services Framework.

ASIC Corporations (Repeal) Instrument 2024/556

ASIC Corporations (DDRS Class Exemption) Instrument 2024/557

Repeals and replaces ASIC Instrument [14/0911] which was due to sunset on 1 October 2024 in substantively like manner and subject to like conditions.

REP 790 Anti-scam practices of banks outside the four major banks

Provides an analysis of our review of the current scam related activities of 15 of Australia’s authorised deposit-taking institutions (ADIs), referred to as ‘reviewed banks’ for the purposes of this report.

INFO 257 ASIC reference checking and information sharing protocol (reissued)

ASIC Corporations and Credit (Reference Checking and Information Sharing Protocol) Instrument 2024/647

ASIC Corporations and Credit (Repeal) Instrument 2024/648

Updated reference checking and information sharing protocol for financial advisers and mortgage brokers commencing on 20 August 2024.

Replaced: ASIC Corporations and Credit (Reference Checking and Information Sharing Protocol) Instrument 2021/429 (2021 Protocol)

INFO 251 AFS licensing requirement for trustees of unregistered managed investment schemes (updated)

Minor technical update to note proceedings in ASIC v BPS Financial Pty Ltd.

INFO 157 Foreign financial services providers: Licensing relief (updated)

Minor technical amendment to extend the transitional period expiry date from 31 March 2025 to 31 March 2026.

ASIC Corporations (Amendment) Instrument 2024/664

Amends ASIC Corporations (Replacement Bidder’s and Target’s Statements) Instrument 2023/688 to clarify that a bidder must make offers for the securities under a takeover bid through the relevant financial market, on the next day after the date referred to in item 13.

REP 789 Review of simplified liquidations: 2021–2023

Outlines the findings from our review of simplified liquidations for the period 1 January 2021 to 30 June 2023. It also provides ASIC’s observations on simplified liquidation data.

CS 10 Proposed extension of breach reporting and record-keeping legislative instruments

Proposal to extend the operation of three legislative instruments related to breach reporting and record-keeping for a further five years:

• Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when giving personal advice,
• ASIC Corporations and Credit (Breach Reporting—Reportable Situations) Instrument 2021/716, and
• ASIC Credit (Breach Reporting—Prescribed Commonwealth Legislation) Instrument 2021/801.

Submissions close 4 September 2024.

ASIC proposes to extend the operation of three legislative instruments (news item)

ASIC extends reportable situations relief and personal advice record keeping requirements (news item)

ASIC and SSC Viet Nam Memorandum of Understanding

Memorandum of Understanding (MoU) between ASIC and the Office of the State Securities Commission (SSC) Viet Nam for information sharing arrangements.

RG 180 Auditor registration

Update to Document C - Capability Report template making it more prescriptive on the type of information that an applicant to be a registered company auditor is required to provide. This reduces ambiguity in the information that is provided as well as assisting Licensing in making a more informed and timely assessment.

ASIC Corporations (Amendment) Instrument 2024/630

Amended:

• ASIC Corporations (Facilitating Electronic Delivery of Financial Services Disclosure) Instrument 2015/647
• ASIC Corporations (Periodic Statement Relief for Quoted Securities) Instrument 2024/14

ASIC Corporations (Amendment) Instrument 2024/497

Extends for a further 12 months the transitional relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services (AFS) licence when providing financial services to Australian wholesale clients.

Amended:

• ASIC Corporations (Repeal and Transitional) Instrument 2016/396;
• ASIC Corporations (CSSF-Regulated Financial Services Providers) Instrument 2016/1109; and
• ASIC Corporations (Foreign Financial Services Providers—Limited Connection) Instrument 2017/182.

ASIC further extends transitional relief for foreign financial services providers (news item)

CP 379 ASIC CS Services Rules

Sets out our proposals to make the ASIC CS Services Rules 2024 to facilitate competitive outcomes in the monopoly provision of clearing and settlement services under s828A of the Corporations Act 2001.

Submissions close 10 September 2024.

ASIC consults on rules to promote competitive outcomes in cash equity clearing and settlement services (news item)

Corporations and Competition (CS Services) Instrument 2024

CS 9 Proposed extension of employee redundancy funds relief

Seeks feedback on our proposal to extend the relief currently provided by ASIC Corporations (Employee redundancy funds relief) Instrument 2015/1150 for a period of five years.

Submissions close 23 August 2024.

ASIC proposes to extend relief for employee redundancy funds (news item)

REP 788 Credit card lending in Australia: Staying in control

Provides information on how Australians use credit cards and on the consumer harm that can result from problematic design, distribution or use of credit cards. It is based on a review of credit card lending in Australia completed by ASIC.

ASIC report finds credit card debt still a pain for many Australians (news item)

REP 786 Equity market cleanliness snapshot report

REP 787 Review of Australian equity market cleanliness: 1 November 2018 to 30 April 2024

Sets out the findings of our review of Australian equity market cleanliness, with data from 2006 and a deep dive from November 2018 to April 2024.

REP 786 summarises and provides a broader context for the findings in REP 787.

24-162 MR Australians can be confident in the integrity of our equity markets: ASIC report

Market Cleanliness Report infographic (PDF 146 KB)

ASIC and CSLR Memorandum of Understanding

Memorandum of Understanding (MoU) between ASIC and the Compensation Scheme of Last Resort (CSLR) for coordination, cooperation, and information sharing.

ASIC and OAIC Memorandum of Understanding

Memorandum of Understanding (MoU) between ASIC and the Office of the Australian Information Commissioner (OAIC) for the sharing of data and privacy breach information.

INFO 165 Claims of legal professional privilege (updated)

Minor technical update to note proceedings in ASIC v Noumi Ltd.

REP 785 Better banking for Indigenous consumers

Provides findings into ASIC’s Better banking for Indigenous consumers project addressing fee harm experienced by low-income customers, including First Nations customers.

24-153MR Big banks to refund millions in fees to low-income customers following ASIC report

INFO 276 FAQs: Registration for relevant providers  (updated)

INFO 281 FAQs: Relevant providers – Accessing the experienced provider pathway (updated)

Minor updates including link to Quick reference guide: Applying the financial adviser professional standards.

RG 279 Financial Accountability Regime: Information for accountable entities (reissued)

Information paper published jointly with the Australian Prudential Regulation Authority (APRA) to support the financial services industry in implementing the Financial Accountability Regime (FAR).

Updated to include new information to help insurers and superannuation trustees prepare for the commencement of the FAR.

For ASIC purposes this APRA information paper is Regulatory Guide 279 (RG 279).

24-152MR ASIC and APRA issue final rules and information for the Financial Accountability Regime

Financial Accountability Regime Regulator Rules Amendment Instrument No. 1 of 2024

Joint letter to insurance and superannuation entities on key functions consultation (July 2024) (PDF 193 KB)

ASIC Corporations (Amendment) Instrument 2024/554

INFO 256 FAQs: Ongoing fee arrangements (updated)

INFO 280 FAQs: Non-ongoing fee consents (updated)

Makes consequential amendments to the following ASIC legislative instruments to reflect changes to Financial Services Guide (FSG) requirements introduced by the Treasury Laws Amendments (Delivering Better Financial Outcomes and Other Measures) Act 2024 (DBFO Act):

• ASIC Corporations (Disclosure of Lack of Independence) Instrument 2021/125
• ASIC Corporations and Credit (Breach Reporting—Reportable Situations) Instrument 2021/716, and
• ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.

ASIC acknowledges royal assent of the DBFO Act (news item)

Pro Forma 209 Australian financial services licence conditions (PF 209)

INFO 284 Public companies to include a consolidated entity disclosure statement in their annual financial report (new)

Provides guidance for preparers of financial reports to ensure that consolidated entity disclosure statements (CEDS) comply with the requirements of the Corporations Act and are consistent with the policy intent of the legislation.

Cost recovery implementation statement 2023-24

Provides information on how ASIC implements the industry funding model and recover:

• the costs of our regulatory activities for each industry subsector in 2023–24, and
• our user-initiated and transaction-based regulatory costs via fees for service in 2023-24.

CS 8 Proposed expiry date for primary production scheme legislative instrument

ASIC is proposing that ASIC Corporations (Land Holding for Primary Production Schemes) Instrument 2024/15 be allowed to expire ('sunset') on 1 October 2024.

Submissions close 9 August 2024.

ASIC proposes October expiry date for managed investment scheme legislative instrument (news item)

ASIC to allow instrument for primary production managed investment schemes to expire (news item)

CS 7 Proposed update to superannuation forecasts relief instrument

Proposes update to the rate of nominal wage inflation in ASIC (Superannuation Calculators and Retirement Estimates) Instrument 2022/603, and Regulatory Guide 276 Superannuation forecasts: Calculators and retirement estimates (RG 276) in view of Treasury’s revised long-term wage growth forecasts.

Submissions close 2 August 2024.

ASIC proposes update to superannuation forecasts relief instrument (news item)

ASIC updates superannuation forecasts relief instrument (news item)

REP 784 Industry update: Pulse check on retirement income covenant implementation

Industry update which summarises the responses to a voluntary survey issued by ASIC and APRA in November 2023.

INFO 30 Fees for commonly lodged documents (reissued)

Updated to account for indexation of fees and charges for FY 2024-25.

ASIC Corporations (Revocation of Approval of March 2020 Banking Code of Practice) Instrument 2024/522

ASIC Corporations (Approval of February 2025 Banking Code of Practice) Instrument 2024/523

The purpose of the New Revocation Instrument is to revoke approval of the March 2020 Code and revoke the March 2020 Approval Instrument, such that the March 2020 Code as varied is no longer approved by ASIC.

The purpose of the New Approval Instrument is to provide ASIC’s approval of the February 2025 Code as given to ASIC by the ABA on 24 June 2024.

ASIC Corporations (Amendment) Instrument 2024/276

Amends Class Order [CO 14/1262] to extend date to 31 March 2025.

INFO 283 Supervising your representatives’ business communications (new)

Provides practical guidance to market intermediaries (investment banks, participants of exchange and over-the-counter markets, securities dealers and corporate advisers) about managing these risks, embedding supervisory arrangements for business communications and reviewing their effectiveness in compliance with their obligations under the Corporations Act and ASIC market integrity rules.

INFO 276 FAQs: Registration for relevant providers (updated)

Removed references to the $50 registration application fee.

INFO 268 FAQs: Relevant providers who provide tax (financial) advice services (reissued)

Incorporate amendments to the QTRP transitional provisions following the registration of the Corporations (Relevant Providers—Education and Training Standards) Amendment (2024 Measures No. 2) Determination 2024.

ASIC Corporations (Card Facility Transfer) Instrument 2024/486

Latitude Finance does not have to comply with Part 7.8A of Corporations Act 2001 in relation to offering or entering into a New Card (Pre DDO).

ASIC Superannuation (Notice of disqualification—John Giannicos) Instrument 2024/471

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

ASIC Superannuation (Notice of disqualification—Kylie Ai Wui Wee) Instrument 2024/470

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

ASIC Market Integrity Rules (Securities Markets) Determination 2024/459

ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2024/460

Maintains ASIC's policy of determining the allocation of Equity Market Products to tiers.

Replaces ASIC Market Integrity Rules (Securities Markets) Determination 2024/154 (repealed 5 July 2024).

Provides new guidance to financial advisers and AFS licensees about the experienced provider pathway following changes to the law made by the Treasury Laws Amendment (2023 Measures No. 3) Act 2023.

Minor and consequential updates following changes to the law made by the Treasury Laws Amendment (2023 Measures No. 3) Act 2023 and for consistency INFO 281 FAQs: Relevant providers – Accessing the experienced provider pathway.

Minor update to update legislative instrument references

In late 2023, ASIC reviewed 10 large home lenders to understand how they are supporting customers experiencing financial hardship. This report outlines the key findings from that review.

This report is for all lenders that provide credit regulated under the National Credit Code, particularly for staff within compliance and hardship functions.

ASIC Superannuation (Notice of disqualification—Mark John Gynther) Instrument 2024/384

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

RG 172 Financial markets: Domestic and overseas operators (updated)

RG 265 Guidance on ASIC market integrity rules for participants of securities markets (updated)

RG 266 Guidance on ASIC market integrity rules for participants of futures markets (updated)

Updated to correct minor drafting errors about the identification of critical business systems, and to clarify what we mean by ‘immediately’ when notifying ASIC of a major event.

INFO 282 Unsolicited contact leading to financial advice (new)

Outlines how financial services laws apply to unlicenced entities referring consumers to a third party for the provision of financial advice.

It is also relevant to Australian financial services (AFS) licensees and financial advisers that receive consumer details obtained through unsolicited contact.

ASIC Corporations (Amendment and Repeal) Instrument 2024/229

Repealed:

• ASIC Corporations (Derivative Clearing Exemption) Instrument 2018/209
• ASIC Corporations (Extended Reporting and Lodgment Deadlines—Unlisted Entities) Instrument 2020/395
• ASIC Corporations (Extended Reporting and Lodgment Deadlines—Listed Entities) Instrument 2020/451

Amended:

• ASIC Corporations (Takeover Bids) Instrument Instrument 2023/683
• ASIC Corporations (Warrants: Relevant Interests and Associations) Instrument 2023/687

ASIC Superannuation (Notice of disqualification—Kristian Convery) Instrument 2024/370

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

ASIC Superannuation (Notice of disqualification—Lin Chou) Instrument 2024/357

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

REP 781 Review of superannuation trustee practices: Protecting members from harmful advice charges

This report provides insights into the extent to which superannuation trustees are acting to protect members’ superannuation balances from erosion by inappropriate advice charges. It summarises the findings of ASIC’s review of trustee progress in this area following earlier guidance from ASIC and the Australian Prudential Regulation Authority (APRA).

RG 204 Applying for and varying a credit licence (updated)

Updated RG 204.305–RG 204.309 to reflect the process for submitting core proof documents via the ASIC MOVEit portal.

RG 78 Breach reporting by AFS licensees and credit licensees (updated)

Updated to mention Ch7 of the Corporations Act in RG 78.148(b) and an amended link to the ASIC Regulatory Portal in RG 78.155

CP 378 Safeguard mechanism reforms: Updates to RG 236

ASIC is proposing to update RG 236 Do I need an AFS licence to participate in carbon markets? to address the safeguard mechanism reforms.

The draft update to RG 236 is attached to this paper.

Submissions close 3 June 2024.

ASIC and FRC Memorandum of Understanding on Reciprocal Arrangements

Memorandum of Understanding (MoU) between ASIC and the UK Financial Reporting Council (FRC) for the recognition of audit qualifications.

ASIC Corporations (L’Oréal SA Employee Share Scheme Disclosure) Instrument 2024/296

Modifies Division 1A of Part 7.12 of the Corporations Act to apply in relation to L’Oréal SA.

ASIC Superannuation (Notice of Administrative Appeals Tribunal Decision—John Gilliland) Instrument 2024/309

Administrative Appeals Tribunal decision notice under subsection 130F(7) of the Superannuation Industry (Supervision) Act 1993.

ASIC Corporations (IPH Limited Employee Share Scheme Disclosure) Instrument 2024/293

Modifies Division 1A of Part 7.12 of the Corporations Act to apply in relation to IPH.

ASIC Superannuation (Notice of disqualification—Tak Bo Cheng) Instrument 2024/285

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

INFO 207 Disputes about commercial loans (updated)

INFO 97 Guidance for small credit businesses (updated)

Minor updates to clarify the role of the Australian Financial Complaints Authority (AFCA), including AFCA’s ability to resolve complaints from small businesses about commercial lending.

INFO 204 Recovery of investigation expenses and costs (updated)

Amendments to reflect the position that ASIC’s policies regarding investigation costs recovery, which were introduced in 2015, are no longer new, and to clarify expectations around the timing of notification of a possible investigation costs order.

CP 377 Guidance for reporting by external administrators and controllers: Updates to RG 16

Seeks feedback on proposals to update Regulatory Guide 16 External administrators and controllers: Reporting of possible offences and misconduct (RG 16).

The draft update to RG 16 is attached to this paper.

Submissions close 6 June 2024.

ASIC Superannuation (Notice of disqualification—John William Hamilton) Instrument 2024/252

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

RG 38 The hawking prohibition (updated)

RG 169 Hawking and disclosure: Discretionary powers (updated)

RG 263 Financial Services and Credit Panel (reissued)

Minor updates including updates to reflect names of sunset class orders to their new legislative instrument titles.

ASIC Corporations (Amendment) Instrument 2024/187

Extends the relief of ASIC Corporations (Parent Entity Financial Statements) Instrument 2021/195 and ASIC Corporations (Auditor Independence) Instrument 2021/75 for an additional five years.

ASIC proposes to extend parent entity financial reporting and auditor independence legislative instruments (news item)

ASIC extends and amends parent entity financial statement and auditor independence instruments (news item)

ASIC Corporations (Periodic Statement Relief for Quoted Securities) Instrument 2024/14

ASIC Corporations (Land Holding for Primary Production Schemes) Instrument 2024/15

ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16

ASIC Corporations (Custody Standards for Providers of Custodial and Depository Services) Instrument 2024/17

ASIC Corporations (mFund) Instrument 2024/18

ASIC Corporations (Repeal) Instrument 2024/19

Five remade class orders for managed funds that were due to expire (‘sunset’) on 1 April 2024:

• [CO 13/1200] Periodic statements relief for AQUA quoted and listed managed investment scheme managed investment scheme issuer;
• [CO 13/1406] Land holding for primary production schemes;
• [CO 13/1409] Holding assets: Standards for responsible entities;
• [CO 13/1410] Holding assets: Standards for providers of custodial and depository services; and
• [CO 13/1621] Exemption and declaration for the operation of mFund.

ASIC proposes to remake managed investment scheme legislative instruments (news item)

ASIC remakes five ‘sunsetting’ class orders for managed funds (news item)

RG 6 Takeovers: Exceptions to the general prohibition (reissued)

RG 55 Statements in disclosure documents and PDSs: Consent to quote (updated)

RG 60 Schemes of arrangement (updated)

RG 161 Share and interest sale facilities (updated)

Minor updates to account for recently remade class orders.

RG 5 Relevant interests and substantial holding notices (reissued)

Updated to reflect Schedule 5 of the Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (Treasury Laws Amendment Act) which commenced and moved into the Corporations Act relief previously contained in ASIC Class Order [CO 13/520] Relevant interests, voting power and exceptions to the general prohibition.

RG 10 Compulsory acquisitions and buyouts (reissued)

Contains new guidance on ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684, explaining that securities acquired on-market by the bidder in reliance on the exemption provided in item 2 of section 611 are included for the purposes of the 75% acquisition test in subparagraph 661A(1)(b)(ii) of the Corporations Act. 

RG 9 Takeover bids (reissued)

Contains new guidance on ASIC Corporations (Takeover Bids) Instrument 2023/683 and ASIC Corporations (Replacement Bidder’s and Target’s Statements) Instrument 2023/688, in relation to: 

• the operation of subsection 617(2) of the Corporations Act 2001 (Corporations Act) over derivatives 
• accelerated payment of bid consideration 
• replacement bidder’s and target’s statements. 

ASIC Corporations (Amendment) Instrument 2024/146

This instrument amends ASIC Corporations (Design and Distribution Obligations Interim Measures) Instrument 2021/784 to ensure the Principal Instrument operates as intended in providing an exemption for certain non-cash payment facilities from the design and distribution obligations.

INFO 159 Frozen funds and hardship withdrawals (reissued)

INFO 249 Frozen funds – Information for responsible entities (reissued)

INFO 266 FAQs: Records of Advice (ROAs) (reissued)

Technical amendments to omit COVID-19 pandemic related information and make other minor changes to ensure currency.

ASIC Corporations (Relief to Facilitate Admission of Exchange Traded Funds) Instrument 2024/147

ASIC Corporations (Repeal) Instrument 2024/148

Replaces Class Order [CO 13/721] Relief to facilitate quotation of exchange traded funds on the AQUA Market which was due to sunset.

ASIC issues new legislative instrument for exchange traded funds (news item)

RG 279 Financial Accountability Regime: Information for accountable entities (new)

Information paper published jointly with the Australian Prudential Regulation Authority (APRA) to support the financial services industry in implementing the Financial Accountability Regime (FAR).

For ASIC purposes this APRA information paper is Regulatory Guide 279 (RG 279).

24-044MR ASIC and APRA release a cross-industry information package on the Financial Accountability Regime

Financial Accountability Regime Act (Information for register) Regulator Rules 2024

Financial Accountability Regime (Consequential Amendments) Transitional Rules 2024

Final rules and further guidance to support the financial services industry in implementing the Financial Accountability Regime (FAR).

20-040MR APRA and ASIC issue final rules and further guidance for the Financial Accountability Regime 

CP 376 Registered liquidators: Registration, ongoing obligations, disciplinary actions and insurance—Updates to RG 258 and supporting documents and templates

Seeks feedback on proposed changes to the existing Regulatory Guide 258 Registered Liquidators: Registration, disciplinary action and insurance requirements (RG 258), issued on 1 March 2017.

We have also updated the title of RG 258 to reflect the revised content. The draft update to RG 258 is attached to this paper.

Submissions close 2 May 2024

ASIC consults on registered liquidator registration guidance (news item)

INFO 174 Disputes with financial firms (updated)

INFO 176 What to do if you are dissatisfied with a decision by the Australian Financial Complaints Authority (updated)

Minor updates to omit references to RG 139 Approval and oversight of external dispute resolution schemes, which has been withdrawn, and other minor changes to ensure currency

ASIC Letter to general insurers regarding insurance claims and severe weather events 6 March 2024 (PDF)

Letter reminding general insurers of their obligations as AFS licensees when handling insurance claims, especially in response to severe weather events.

ASIC letter calls on insurers to improve claims handling practices (news item)

ASIC Market Integrity Rules (Securities Markets) Determination 2024/154

ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2024/155

Maintains ASIC's policy of determining the allocation of Equity Market Products to tiers.

Replaces ASIC Market Integrity Rules (Securities Markets) Determination 2023/903 (repealed 9 April 2024).

REP 780 ASIC enforcement and regulatory update: October to December 2023

Provides an overview of ASIC’s work and key matters between 1 October and 31 December 2023.

24-037MR ASIC shuts down nearly 3,500 scam websites, steps up surveillances in push to protect consumers 

Summary of enforcement outcomes: July to December 2023

Regulatory developments timetable

ASIC Market Integrity Rules (Futures Markets) Class Waiver Amendment Instrument 2024/131

Extends the operation of ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313 to 22 March 2027.

ASIC Corporations (AFCA Regulatory Requirement) Instrument 2024/60

Requires the Australian Financial Complaints Authority (AFCA) operator to ensure it complies with section 9A of the AFCA Scheme Authorisation 2018 by amending the scheme rules, without consultation, to include provisions consistent with section 9A of the AFCA Authorisation.

REP 779 Superannuation choice products: What focus is there on performance?

Examines the role of superannuation trustees, financial advisers and Australian financial services licensees in influencing the investment options that make up member superannuation portfolios as part of a choice superannuation product. ASIC’s review considered the focus on performance, as investment in persistently underperforming choice products adversely impacts member retirement outcomes.

RG 148 Platforms that are managed investment schemes and nominee and custody services (reissued)

Updated to account for recently remade legislative instruments and to clarify when investors must be given information electronically.

CP 375 Proposed changes to the ASIC Derivative Transaction Rules (Reporting): Third consultation

Proposes further amendments to the ASIC Derivative Transaction Rules (Reporting) 2024 in relation to outstanding matters from our prior consultations released in November 2020 and May 2022, and minor and related proposed changes to the ASIC Derivative Transaction Rules (Clearing) 2015.

Submissions close 28 March 2024.

ASIC consults on changes to OTC derivative transaction rules (news item)

ASIC Superannuation (Notice of disqualification—Md Nazrul Islam) Instrument 2024/87

SMSF auditor disqualification notice under section 130F(2) of the Superannuation Industry (Supervision) Act 1993.

Class no-action letter for sophisticated investors under the UCT regime (PDF)

Grants limited no-action relief for sophisticated investors from the Unfair Contract Terms (UCT) regime.

ASIC grants class no-action position regarding Unfair Contract Terms for institutional markets (news item)

APRA-ASIC Letter on FAR commencement and implementation (PDF)

Joint APRA–ASIC letter to all authorised deposit-taking institutions (ADIs) and their authorised non-operating holding companies (NOHCs) about their Financial Accountability Regime (FAR) obligations.

ASIC and APRA issue joint letter on Financial Accountability Regime commencement and implementation (news item)

Letter to CEOs – ASIC’s guidance for market intermediaries on pre-hedging (PDF)

Letter to market intermediary CEOs setting out ASIC's guidance regarding pre-hedging practices in Australia.

ASIC’s guidance for market intermediaries on pre-hedging (news item)

ASIC’s Financial Services Industry Workshop - 30 November 2023 | Summary Document

Summary document on Understanding and Responding to Identification Challenges for First Nations Consumers under ASIC's Indigenous Financial Services Framework

ASIC releases summary document for Indigenous Financial Services Framework Workshop (news item)

ASIC Corporations (Amendment) Instrument 2024/23 

Extends the due date for registration of financial advisers who provide personal advice to retail clients on relevant products (known as relevant providers) by two weeks until 16 February 2024.

ASIC urges AFS licensees to register their financial advisers and provides a short extension to facilitate compliance (news item)

ASIC Credit (Amendment) Instrument 2024/20

Repeals ASIC Credit (Electronic Precontractual Disclosure) Instrument 2020/835 from 1 April 2024 in line with the commencement of the Treasury Laws Amendment (Precontractual Disclosure and Other Measures) Regulations 2023.

CS 6 Remaking managed investment scheme legislative instruments

Seeks feedback on ASIC's proposal to remake the following class orders relating to managed investment schemes that are scheduled to sunset on 1 April 2024:

• [CO 13/1200] Periodic statements relief for AQUA quoted and listed managed investment scheme manager
• [CO 13/1406] Land holding for primary production schemes
• [CO 13/1409] Holding assets: Standards for responsible entities
• [CO 13/1410] Holding assets: Standards for providers of custodial and depository services
• [CO 13/1621] Exemption and declaration for the operation of mFund

Submissions close 16 February 2024.

ASIC proposes to remake managed investment scheme legislative instruments (news item)

ASIC Corporations (Product Intervention Order Extension—Short Term Credit) Instrument 2023/956

ASIC Corporations (Product Intervention Order Extension—Continuing Credit Contracts) Instrument 2023/957

Extension of ASIC's product intervention orders in relation to short term credit and continuing credit contracts so that the orders remain in force until they are revoked or they sunset on 1 October 2032.

24-001MR ASIC extends product intervention orders for short term credit and continuing credit contracts

23-214MR ASIC consults on proposals to extend its short term credit and continuing credit contracts product intervention orders

INFO 157 Foreign financial services providers: Licensing relief (reissued - title changed)

Information about transitional arrangements for foreign financial service providers (FFSPs) updated to explain that an FFSP that relied on the previous class order relief as at 31 March 2020 will generally be able to continue to do so until 31 March 2025, noting the Australian Government’s proposed legislative regime for FFSPs, which is planned to commence on 1 April 2025.

ASIC Corporations (Amendment) Instrument 2023/142

Makes minor and technical amendments to the following financial reporting relief instruments:

• ASIC Corporations (Post Balance Date Reporting) ASIC Corporations (Disclosing Entities) Instrument 2015/842
• ASIC Corporations (Disclosing Entities) Instrument 2016/190
• ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191