ASIC industry funding levies for 2018-2019

In anticipation of the next round of ASIC industry levies, ASIC has this week published its draft Cost Recovery Implementation Statement: ASIC industry funding model (Statement), setting out the estimated industry sector levies for 2018-2019. The draft Statement aims to increase transparency in ASIC’s funding model by outlining their forecasted regulatory activities, costs and cost allocations.

Funding premise

The issuing of the draft Statement follows the introduction of new industry funding arrangements in 2017, which sought to shift the regulatory cost burden from the tax payer to industry participants. As it stands, ASIC anticipates that 90 per cent of regulatory costs will be recovered by industry funding levies, while the remaining 10 per cent will be recovered from fees.