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New ASIC levy proposed

New ASIC levy proposed

August 28, 2015 11:56 AM | Posted by Batten, Richard | Print this page
The Government released a Consultation Paper addressing the Financial System Inquiry (FSI) recommendation that the Government should adopt an industry funding model for ASIC.

The FSI found that an industry funding model for ASIC could provide more funding certainty and enhance the transparency of ASIC's costs and funding.

The Government has indicated that submissions on the Consultation Paper, together with the findings of the ASIC Capability Review due to report to Government by the end of 2015, will assist the Government's consideration of whether to accept the Inquiry's recommendation that ASIC’s regulatory activities should be funded by industry.

Industry roundtables will also be held during the consultation period to give stakeholders an opportunity to share their views.