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Showing 21 - 30 of 51 results for "Industry Funding"

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 ...

Treasury rolls out ASIC industry funding fee paper

ALEX BURKE  |  FRIDAY, 24 NOV 2017
... applications for relief. Fees associated with updating an ASIC registry database will not be included in the industry funding fee-for-service model. The paper explains that the methodology behind the fee-for-service model is derived from a weighted average ...

Banks will step out of wealth: Medcraft

DARREN SNYDER  |  TUESDAY, 31 OCT 2017
... said. At one of his final presentations as ASIC chair, Medcraft labelled his biggest achievement as securing the industry funding model and removing the corporate regulator from the public service. During his term Medcraft was initially told ASIC is ...

ASIC outlines industry funding costs

ALEX BURKE  |  MONDAY, 9 OCT 2017
ASIC has released the forecast regulatory costs for industry participants as part of its new industry funding model. These costs vary across industry sectors. In the registered liquidator sector, for example, companies will have a minimum levy of $2500 ...