New ASIC fees model

Treasury has published a Consultation Paper on ASIC’s regulatory fees-for-service model that will apply from 1 July 2018.

The fees relate to ASIC regulatory costs that are directly attributable to a single, identifiable, entity. Examples of activities that will be charged through a regulatory fee include licences, registrations and approvals.

The fee will be additional to the new annual regulatory levies for an industry sector or subsector.

Under fees-for-service model for ASIC’s regulatory activities for individual entities, ASIC will charge a fee for:
• licensing application or variations services;
• application for registration services;
• requests for changes to market integrity rules or procedures;
• the processing of applications for relief lodged with ASIC; and
• ASIC’s formal compliance review of documents lodged by entities under the Corporations Act 2001, such as prospectuses and compliance documents.

Schedule A lists the proposed new fees for forms that currently do not have a fee and Schedule B lists the forms that are proposed to have fees removed.

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