ASIC urges organisations and individuals that hold a licence and operate in an industry sector covered by the Government’s laws for industry funding of ASIC’s costs to pay their invoice on time to avoid penalties.

ASIC issued invoices to recover its FY 2017-18 regulatory costs on 31 January 2019, either via the ASIC Regulatory Portal to those that registered, or via mail to the address registered with ASIC.

ASIC Commissioner Cathie Armour said this was the first year of the new regime.

‘Ensuring a fair, strong and efficient financial system for all Australians is our goal and is at the heart of all our regulatory activities,’ Cathie said.

‘We worked closely with industry to implement the new model to recover ASIC’s cost from industry. The due date for payment of invoices is a significant milestone in this inaugural year.

‘We want people and firms to avoid penalties for late payment and encourage them to pay their invoice by 15 March 2019.’

Visit ASIC’s website to find out more about industry funding.