ASIC simplifies compliance with beneficial ownership reforms

ASIC has simplified compliance with its beneficial ownership reforms that will improve transparency about who ultimately owns, controls or has significant economic exposure to listed entities in Australia.

From December 4, entities listed on Australian financial markets will become subject to enhanced substantial holding disclosure and beneficial ownership disclosure obligations.

The reforms passed in December 2025 imposed enhanced substantial holding disclosure and beneficial ownership disclosure obligations on listed entities.

Earlier in the year, ASIC was seeking feedback on how it can strengthen transparency around who ultimately owns and controls listed entities, proposing several amendments it hopes will better corporate transparency, market efficiency and oversight.

To simplify compliance, ASIC has made a new Substantial Holding Notice (SHN) form by consolidating three forms into one, simplified the calculation used to determine deemed economic interests and offsetting short positions in listed securities, and implemented an index-based format for registers of relevant interests.

ASIC is exploring a web-based portal with market operators for users to submit substantial holding information.

The changes are part of ASIC's efforts to minimise regulatory burden.

Before 4 June 2027, interest holders can meet their substantial holding obligations either by using the new SHN or one of three replacement forms.