InFocus September 2023 - Volume 32 Issue 7

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Industry funding - submit your industry funding annual return now!

The ASIC industry funding annual return for 2022-23 is now available for entities to review and complete.

Entities that have industry funding obligations have been sent correspondence with instructions on how to submit the industry funding annual return. Entities must log in to their ASIC Regulatory Portal account and submit the information requested in the annual return by 27 September 2023.

Regulated entities that have not created an ASIC regulatory portal account will receive correspondence to the registered office address, including a unique ‘security key’, which is needed to create an account. If you did not receive your correspondence during July/August, see our FAQ’s in the ASIC Regulatory Portal for other ways to register and log on.

For more information on industry funding, visit our website. 

Financial reports due soon - lodge online now

If you have a financial year end date of 30 June 2023, financial reports will be due soon. Now is the best time to get your documents ready.

Disclosing entities or registered schemes must lodge within three months after the end of the financial year and all other companies must lodge within four months after the end of the financial year.

Financial reports must be lodged online.

Find out more information about financial reporting on our website.

Are you lodging a Form 488 on behalf of a company or registered scheme as a Registered Agent?

If your answer is yes, the required payment must be made to your account, not the company's account.

To avoid misallocation of payments and to ensure it goes to your correct account, you must include your ASIC registered agent number on the Form 488 under the “Lodgement details”.

The lodgement of the Form 488 - Application to change the review date of a company or registered scheme creates an invoice under your account as a registered agent.  

When lodging the Form 488 for multiple companies, you will only need one payment for all the companies, instead of providing multiple payments for each company.

More information on our website.

ASIC warns of further action against market misconduct

ASIC is warning market participants that strong, targeted enforcement action will continue in the coming months as part of its focus on protecting consumers from harm and upholding market integrity.

The warning comes after ASIC’s enforcement and regulatory update highlighted over $109.1 million in civil penalties for the half year to 30 June 2023, along with a number of significant outcomes aimed at maintaining market integrity.

This includes the cancellation of the AFS licence used by Binance Australia Derivatives, insider trading charges and the sentencing of an individual for market manipulation.

Read more about this media release in the ASIC website.

Our service availability page is here to help

Our service availability web page has the details of planned or unscheduled outages to our online services.

This page includes a ‘service interruptions’ section, where you can find out if we are currently experiencing any unscheduled service interruptions or issues. This includes details on the affected systems and any other helpful information.

We often plan interruptions to our online services so we can perform routine maintenance and system upgrades. Our log of scheduled service interruptions can help you find out when our services will be unavailable and when they’re expected to be back online.

We aim to ensure that the schedule includes dates and details in advance to help you plan ahead for any scheduled service interruptions.

Need support resources for your business?

With so much information available online it can be hard to know where to turn for business support. The Australian Small Business and Family Enterprise Ombudsman’s (ASBFEO) My Business Health is here to help you face challenges and identify opportunities to grow your business.

Pulling together a range of resources, My Business Health gives you easy access to tools, templates and tips to manage stress and proactively engage with running your business.

Good business health supports good mental health, and we want to ensure that small business owners have the tools to manage the challenges so they can focus on enjoying their business.

Last updated: 05/09/2023 09:24