ASIC has published Report 738 Licensing and professional registration activities: 2022 update (REP 738) which outlines ASIC’s licensing and professional registration activities, discusses new and proposed changes to its licensing processes, and notes other work that affects licensees.

The report provides interesting statistics about ASIC’s administration including the timeframes in which applications were finalised in the period from 1 July 2021 to 30 June 2022:

Type of application	Finalised within 150 days	Finalised within 240 days
AFS licence – new	73%	91%
AFS licence – variation	67%	89%
Credit licence – new	75%	71%
Credit licence – variation	87%	90%
All AFS and credit licence applications	71%	90%

ASIC also supervises registered liquidators, company auditors and approved SMSF auditors.

In the last year ASIC has also assumed responsibility for:
› insurance claims handling and settling services;
› debt management services firms; and
› corporate collective investment vehicles.

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.