Industry funding allows ASIC to recoup its regulatory costs from industry through a combination of levies and fees-for-service. Regulated organisations have been categorised into six sectors and 48 subsectors. Approximately 90% of ASIC's regulatory costs will be allocated among these subsectors through either a flat levy or a graduated levy. The remaining approximately 10% will be collected via fees-for-service. Your organisation may form part of multiple subsectors depending on your authorisations and business activities. The levy relevant for each subsector will be payable.
The Market Infrastructure and Market Intermediaries sectors contain the following subsectors:
|Market Infrastructure||Market Intermediaries|
The industry funding model will recover the actual amount spent during the previous financial year. This means the levies can only be calculated and issued in the following financial year.
Fees-for-service recover the regulatory costs attributable to an individual organisation and apply to licensing and professional registrations, applications for relief, and review of corporate finance transaction documents.
The current fees for these activities do not reflect their actual cost.
Government previously consulted on fees-for-service in 2015 and 2017 and is currently developing a final industry consultation paper for release in 2018.
Fees for service will likely take effect from 1 July 2018 subject to legislation.