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Regulatory Update: ASIC Industry Funding Reminder

The corporate regulator is reminding industry not be late when it comes to submitting the required information to the ASIC Regulatory Portal.

Those who will be affected by the Australian Securities and Investments Commission (ASIC) industry funding model will be expected to submit the required information through the ASIC regulatory portal by September 27th.

The regulator reminded industry earlier this week that this important because it is this data that they calculate the quantity that regulated entities will need to pay.

“Complying with industry funding obligations is simple and we have set up an online process to make it straightforward,” ASIC Commissioner Cathie Armour, said. “As this is the first year of an entirely new funding model for the industry, our focus is on ensuring people know what they need to do in advance”.

The commissioner that there will be penalties for business who fail to submit the necessary data through the portal on time.

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