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Showing 21 - 30 of 54 results for "Industry Funding"

ASIC industry levy to increase

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
Financial advisers will need to fork out an extra 27% to pay the regulator's industry funding levy for the 2021 financial year. Advisers will pay $71.354 million in aggregate or $3138 on a per adviser basis plus a fixed amount of $1500 per licence ...

Adviser levy to increase by 160%

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... penalties and fines are diverted to consolidated revenue rather than offsetting ASIC's costs. They also noted ASIC's industry funding model had not changed despite major shifts in the financial advice sector, with banks largely exiting advice. Yet ASIC's ...

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... Association of Australia has hit back at the corporate regulator accusing it of price gouging after increasing the industry funding levy for financial advisers by 38%. The FPA has urged the corporate regulator to reconsider the 38% increase to the ASIC ...

Should unused services on AFSLs be subject to ASIC levy?

KANIKA SOOD  |  FRIDAY, 17 APR 2020
An AFSL holder asked the court to review its entreaty to ASIC to waive industry funding levy for services that it was licensed to offer but did not. Polymath Investors acquired an Australian Financial Services Licence in 2010 to work with wholesale ...

ASIC increases levy costs

ELIZA BAVIN  |  THURSDAY, 16 JAN 2020
... driven by the increase in enforcement matters adopted following recommendations of the Royal Commission. "The ASIC industry funding model was designed so that industry levies are set at the end of the year, after ASIC's regulatory costs are known. This ...

ASIC alters adviser levy

ELIZABETH MCARTHUR  |  FRIDAY, 20 DEC 2019
... be advised that while ASIC indicated that the per-adviser levy for 2018/2019 would be $907 (as per their ASIC Industry Funding page) - this has now been changed to $1142 per adviser," Marshan said on LinkedIn. He added that ASIC made this change without ...

Federal Budget: Industry responds

HARRISON WORLEY  |  WEDNESDAY, 3 APR 2019
... $606.7 million response to the Royal Commission, the fact most of that amount will be recovered from ASIC's industry funding model will add to the cost of advice. "We believe implementing the Royal Commission recommendations is necessary for the ...

Post Royal Commission change is all talk: Shipton

JAMIE WILLIAMSON  |  MONDAY, 22 OCT 2018
... He said now is the right time to discuss whether ASIC and its peers are "right sized" in relation to the new industry funding model; unique characteristics of Australia's financial system; size of Australia's financial markets; number of consumers; number ...

Royal Commission sees increased ASIC, APRA funding

ALEX BURKE  |  TUESDAY, 8 MAY 2018
... increase in APRA financial institutions supervisory levies in 2018-19 and $10.6 million recovered as part of ASIC's industry funding model. Overall, ASIC's budget estimate for 2018-19 is $37 million and APRA's is $83 million. Elsewhere, the Australian ...

ASIC fees to more than double

JAMIE WILLIAMSON  |  THURSDAY, 12 APR 2018
... regime, fees for activities - such as processing a licence application - will better reflect ASIC's actual costs. "Industry funding ensures that the costs of regulation are borne by those that have created the need for it, rather than the Australian ...