New and updated ASIC regulatory publications since 1 March 2020

To assist users during the COVID-19 pandemic, we are publishing this weekly tracker of ASIC regulatory document updates.

It lists and includes links to all new and updated regulatory guides, information sheets, reports and consultation papers issued by ASIC and published on our website.

It also includes links to legislative instruments (including rules, determinations and waivers) made by ASIC which are published on the Federal Register of Legislation, and information about instruments which provide relief to individual entities where this is related to COVID-19.

This weekly tracker supplements our existing consolidated regulatory document update tables, which are published monthly.

Items are listed in reverse chronological order.

Week beginning 18 May 2020

Date Regulatory document Description
22/5/2020
  • ASIC Corporations (Deferral of Design and Distribution Obligations) Instrument 2020/486
  • ASIC Credit (Deferral of Mortgage Broker Obligations) Instrument 2020/487
Relief deferring the commencement date of the mortgage broker best interest duty and remuneration reforms, and the design and distribution obligations, for six months due to the impact of COVID-19: see 20-109MR

Week beginning 11 May 2020

Date Regulatory document Description
15/5/2020
  • ASIC Corporations (Extended Reporting and Lodgment Deadlines—Listed Entities) Instrument 2020/451
  • ASIC Corporations (Amendment) Instrument 2020/452
Relief to assist listed and unlisted entities affected by the impacts of COVID-19 by enabling them more time to report and have audits: see 20-113MR

Week beginning 4 May 2020

Date Regulatory document Description
7/5/2020 ASIC Corporations (AFCA Regulatory Requirement) Instrument 2020/0433 Imposes additional conditions on the AFCA scheme relating to 'SMEG Loans' and repayment deferrals for business loans impacted by COVID-19.
6/5/2020 Retail investor trading during COVID-19 volatility Outlines early observations by ASIC on trading in securities and contracts for difference (CFDs) during the volatility caused by the COVID-19 pandemic: see 20-102MR
4/5/2020 Instrument 20-0430 Six month conditional relief granted to Macquarie Bank and related entities from the requirement to give customers Form 11A direct debit default notices under s 87 of the National Credit Code, while it sends modified communication and relaxes collection and enforcement processes as a result of COVID-19.

Week beginning 27 April 2020

Date Regulatory document Description
29/4/2020 REP 660 ASIC Enforcement Update July to December 2019 ASIC’s overview of enforcement outcomes, priorities and cases during the period 1 July 2019 to 31 December 2019: see 20-099MR

Week beginning 20 April 2020

Date Regulatory document Description
24/4/2020 ASIC Corporations (COVID-19 – Distribution of Debit Cards) Instrument 2020/401 Relief to allow the distribution of debit cards to existing customers without debit cards – including vulnerable and elderly consumers – in response to COVID-19.
22/4/2020
  • ASIC Corporations (Extended Reporting and Lodgment Deadlines—Unlisted Entities) Instrument 2020/395
  • ASIC Corporations (Amendment) Instrument 2020/396
Relief extending the deadline for unlisted entities to lodge financial reports by one month for balance dates from 31 December 2019 to 31 March 2020 to account for possible impacts of COVID-19: see 20-084MR.
20/4/2020 REP 659 ASIC regulation of corporate finance: July to December 2019 Twelfth and final report on ASIC's oversight of corporate finance activity covering 1 July 2019 to 31 December 2019. To be replaced by quarterly newsletters: see 20-093MR.

Week beginning 14 April 2020

Date Regulatory document Description
14/4/2020 INFO 230 Exchange traded products: Admission guidelines Updated to:
  • outline measures firms should take to manage market integrity risks associated with internal market making
  • provide guidance on improving internal marking making practices, and
  • make peripheral updates to reflect recent changes in the market.

See 20-088MR and 19-348MR.

14/4/2020 ASIC Corporations (COVID-19—Advice-related Relief) Instrument 2020/355 Prescribes relief measures to facilitate affordable and quality financial advice during the COVID-19 pandemic: see 20-085MR and no-action position for superannuation trustees.
14/4/2020 REP 658 ASIC regulation of registered liquidators: July 2018 to June 2019 Eighth overview of ASIC’s regulation of registered liquidators covering 1 July 2018 to 30 June 2019.

Week beginning 6 April 2020

Date Regulatory document Description
9/4/2020 REP 657 Survey of crowd-sourced funding intermediaries: 2018–19 Outlines the findings from ASIC’s second crowd-sourced funding (CSF) industry survey covering 1 July 2018 to 30 June 2019. 

Week beginning 30 March 2020

Date Regulatory document Description
1/4/2020 Reissued regulatory guides:

Reissued information sheets:

New information sheet:

Other documents:

 

New and updated regulatory guidance to reflect:
  • amendments made by the Stronger Regulators Act, which commenced on 18 February 2020, including the extension of the fit and proper person test for credit licensees and the introduction of such a test for AFS licensees,
  • the implementation of a modified AFS licensing regime for foreign financial services providers, which commenced on 1 April 2020 with a two-year transition period (see 20-058MR), and
  • the introduction of general conduct obligation penalties for AFS licensees and credit licensees made by the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019.
31/3/2020 INFO 243 Licensing requirements for providers of funeral expenses facilities Guidance on AFS licensing requirements applying from 1 April 2020: see 20-076MR
31/3/2020
  • ASIC Corporations (Trading Suspensions Relief) Instrument 2020/289
  • ASIC Corporations (Amendment) Instrument 2020/290
Temporary relief to facilitate 'low doc' capital raisings during COVID-19: see 20-075MR
30-31/3/2020
  • RG 16 External administrators - Reporting and lodging
  • RG 34 Auditor’s obligations: Reporting to ASIC
  • RG 78 Breach reporting by AFS licensees
  • RG 109 Assetless Administration Fund: Funding criteria and guidelines
  • INFO 29 External administration, controller appointments and schemes of arrangement - most commonly lodged forms (flowcharts 1, 2, 5, 8 and 9)
Minor technical updates for ASIC Regulatory Portal enhancements which replace existing channels:
  • registered company auditors and AFS licensees will now submit breach reports via the portal, and
  • registered liquidators can now submit a range of regulatory reports and requests through the portal.

Week beginning 23 March 2020

Date Regulatory document Description
26/3/2020 ASIC Corporations (Amendment) Instrument 2020/242 Amends Instrument 2015/844
24/3/2020 INFO 157 Foreign financial services providers: Practical guidance on transitional arrangements Minor amendments to requirements for lodging and certification of documents in support of applications for equivalence relief

Week beginning 16 March 2020

Date Regulatory document Description
20/3/2020 ASIC Corporations (Amendment) Instrument 2020/149 Amends Instrument 2018/209
18/3/2020 ASIC Market Integrity Rules (Futures Markets) Class Waiver Amendment Instrument 2020/229 Extends Class Waiver 2018/313 until 18/3/2022
17/3/2020 RG 251 Derivative transaction reporting Guidance updated for minor Brexit-related changes

Week beginning 9 March 2020

Date Regulatory document Description
10/3/2020
  • RG 176 Foreign financial services providers
  • REP 656 Response to submissions on CP 301 and CP 315 on foreign financial services providers
  • INFO 157 Foreign financial services providers: Practical guidance on transitional arrangements (reissued 13/3/2020)
Updated for the introduction of ASIC’s new regulatory framework for FFSPs: see 20-058MR and Instruments 2020/198, 2020/199 and 2020/200.
10/3/2020 CP 329 Implementing the Royal Commission recommendations: Advice fee consents and independence disclosure See 20-056MR

Week beginning 2 March 2020

Date Regulatory document Description
4/3/2020 ASIC Market Integrity Rules (Securities Markets) Determination 2020/195 Replaces Determination 2019/1226
4/3/2020 ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2020/196 Repeals Determination 2019/1226 which is superseded by Determination 2020/195
2/3/2020 INFO 242 ASIC’s document production guidelines Overview of ASIC’s new document production guidelines. See 20-051MR and INFO 145
Last updated: 27/05/2020 03:02