Submission to Treasury on proposed Industry Funding Model for ASIC

Thursday, 08 October 2015

On 9 October 2015, the AICD lodged a submission in response to Federal Treasury’s Consultation Paper, Proposed Industry Funding Model for the Australian Securities and Investments Commission. 

In summary, our comments were as follows:

  • The AICD supports a funding model that ensures that regulator is well funded and has the necessary financial resources to perform its regulatory and oversight role in the capital markets
  • The AICD is of the view that once the funding model has been determined, additional processes may be required to ensure ASIC manages its costs in a transparent way
  • The AICD proposes that a longer transition period be considered to enable ASIC to monitor for any unintended consequences of the changes.

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