ASIC furthers simplification with regulatory roadmaps

ASIC is furthering its simplification work, focusing on the development of sector-based regulatory roadmaps, improving ASIC registers through the RegistryConnect program, and expanding digital transactions.

ASIC said for the next six months it will prioritise working with APRA and other regulators to streamline and consolidate data requests and support the government's law reform, promoting productivity.

Heading into 2027, the focus will be on RegistryConnect to deliver streamlined digital services for company registrations.

"We are deliberately prioritising initiatives that deliver the greatest benefit and are consulting openly with industry. I'd like to thank everyone who has contributed their insights, ideas, and time to improve our simplification agenda," ASIC chair Joe Longo said.

"Together, we can create a regulatory framework that supports compliance, fosters innovation and strengthens trust in Australia's financial system."

This comes as ASIC also released Report 830, Regulatory simplification progress report, which outlines the work the regulator has already done, including expanding its digital services capability, streamlining its website, and simplifying regulatory guidance.

Longo said the outcomes highlighted in Report 830 show the organisations commitment to making regulation clearer, more accessible and easier to navigate.

"Regulatory complexity continues to be a challenge for Australian businesses by increasing costs, slowing innovation, creating unnecessary barriers and risking poorer consumer outcomes," Longo said.

"We have listened to feedback through our extensive engagement with the regulated community and will continue to explore opportunities to remove barriers within our control. Our efforts will focus on striking the right balance to ensure we maintain the strong protections that make Australia an attractive place to invest and do business."

In response to feedback received following the release of Regulatory simplification (REP 813) in September 2025, ASIC has also developed clearer guidance and simplified legislative instruments to ensure they are easy to understand, while implementing sector-based regulatory roadmaps to help small company directors and financial advice businesses understand their obligations.

It also improved access to regulatory information on ASIC's website with 280 form landing pages updated to make it easier for industry to comply with regulatory obligations, and modernised digital services, which it said has driven a 380% increase in forms available for electronic lodgement, resulting in 45,000 fewer paper-based lodgements annually, simplifying how businesses interact with ASIC.