Regulatory developments timetable
This timetable outlines proposed timeframes for ASIC regulatory work, such as the publication of draft or final guidance, or anticipated making of a legislative instrument. The timetable generally excludes review and surveillance activities, and enforcement activities. The timetable is published every six months. The document is a point in time summary and is not updated once published.
This document reflects ASIC's best estimation as at the date of publication. These are subject to change and care should be taken in relying on these dates for planning purposes.
As of 15 February 2023
Initiative | Indicative Timing | Description | Related info/document | Expected action | Status Comments | Sector | Label |
Publication of report on expectations and good practices for whistleblower programs | 1/1/2023 | Report | General | ||||
Implementation of ASIC’s Indigenous Financial Services Framework | 1/1/2023 | Published framework | General | ||||
Updates to Regulatory Guide 78: Breach reporting by AFS licensees and credit licensees | 1/4/2023 | Minor updates to provide supplementary guidance and improve clarity around requirements | Updated regulatory guide | General | |||
New licensing portal for Australian financial services and credit licensees, auditors and liquidators | 1/7/2023 | New portal and revised guidance | General | ||||
Updated regulatory guides, new legislative instruments, and a report following Consultation Paper 365 Remaking ASIC class orders on takeovers, compulsory acquisitions and relevant interests | 1/1/2023 | Updated regulatory guide and new legislative instruments | Corporate finance | ||||
Publication of report on submissions received in response to Consultation Paper 364 - Modifications to the ESS regime and explaining our approach on appropriate relief in relation to Div 1A of Pt 7.12 of the Corporations Act 2001, following making of a legislative instrument that facilitates employee share schemes. | 1/1/2023 | Publication of report on submissions | Corporate finance | ||||
Information sheets: Registration of relevant providers - general information about the new requirement that all relevant providers (person who is authorised to provide personal advice to retail clients on relevant financial products) be registered with ASIC by 1 July 2023 |
1/1/2023 | New information sheet | Financial advisers | ||||
Information sheet: Registration of relevant providers - guidance on making declarations required by s921ZA and 921ZB when registering a relevant provider | 1/1/2023 | Information sheet | Financial advisers | ||||
Update of Regulatory Guide 22 Directors’ statement as to solvency - Updating outdated references in guidance on directors' solvency statements | 1/1/2023 | Updated regulatory guide | Financial reporting and audit | ||||
Consultation paper on repeal of sunsetting Self-managed superannuation fund (SMSF) Auditor Competency Standards instrument | 1/1/2023 | To consult on the repeal of ASIC Class Order CO 12/1687 Competency standards for approved SMSD auditors | Consultation paper | Financial reporting and audit | |||
Update to Information Sheet 224 ASIC Audit Inspections - to address severity of ASIC audit inspection findings from 30 June 2023. | 1/1/2023 | Financial reporting and audit | |||||
Update of financial reporting and audit class orders for Corporate collective investment vehicles (CCIVs) | 1/1/2023 | To inform the market on changes to class orders relevant to CCIVs and corporate directors | Updated class orders | Financial reporting and audit | |||
Discussion paper on insurance recurrent data collection | 1/1/2023 | Discussion paper | Insurance | ||||
Updated guidance and website to complete implementation of regulation of litigation funding schemes | 1/1/2023 | Amendments to ASIC guidance and website | Investment managers | ||||
Market Integrity Rules come into affect on 10 March 2023, aimed at promoting the technological and operational resilience of securities and futures market operators and participants on 10 March 2023 | 1/1/2023 | Implementation following making of rules | Market infrastructure and intermediaries | ||||
Updated Regulatory Guide 251 Derivative Transaction Reporting and Regulatory Guide 249 Derivative trade repositories following the updates made in December 2022 to the ASIC Derivatives Transaction Rules (Reporting) to harmonise Australian Trade Reporting rules to align the OTC Derivatives trade reporting requirements in Australia with international approaches | 1/1/2023 | Updated regulatory guides | Market infrastructure and intermediaries | ||||
Proposed amendments to the ASIC Derivative Transaction Rules (Clearing) 2015 to remove and replace products referencing USD LIBOR | 1/1/2023 | Consultation paper | Market infrastructure and intermediaries | ||||
Publish a consultation paper on outstanding matters relating to ASIC Derivatives Transaction Rules (Reporting) not updated in December 2022 | 1/4/2023 | Consultation paper | Market infrastructure and intermediaries | ||||
Publish a consultation paper on ASIC Market Integrity Rules (Futures Markets) 2017 with proposals to include rules on automated order processing and amend Rule 2.2.1 relating to aggregate loss limits | 1/7/2023 | ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313 expires 22 March 2024 | Consultation paper | Market infrastructure and intermediaries | |||
Provide an additional user guide for annual administration return form (5602) in response to commonly asked questions | 1/1/2023 | Final user guide | Registered liquidators | ||||
Consultation on proposed changes to Regulatory Guide 258 Registered liquidators: Registration, disciplinary actions and insurance requirements - particularly regarding initial registration and ongoing obligations | 1/1/2023 | Consultation | Registered liquidators | ||||
Consultation on Regulatory Guide 217 Duty to prevent insolvent trading: Guide for directors - revisions responding to recommendations in the Review of the Insolvent Trading Safe Harbour – Final Report | 1/4/2023 | Consultation | Registered liquidators | ||||
Revised guidance in Regulatory Guide 16 External administrators – Reporting and lodging | 1/4/2023 | Revised guidance | Registered liquidators | ||||
Revised guidance in Regulatory Guide 242 ASIC’s power to wind up abandoned companies – revisions to include the proposed winding up on public interest grounds | 1/4/2023 | Revised guidance | Registered liquidators | ||||
Publish new regulatory guide – ASIC's power to appoint reviewing liquidators | 1/7/2023 | Guidance | Registered liquidators | ||||
Publish new regulatory guide – Requesting eligible applicant authorisation | 1/7/2023 | Guidance | Registered liquidators | ||||
New information sheet - Superannuation Trustee Transparency and Disclosure Obligations | 1/1/2023 | Information sheet | Superannuation |
Note: Subject to the passage of legislation, ASIC will provide guidance on:
- the implementation of the Financial Accountability Regime, which will be administered jointly with the Australian Prudential Regulation Authority
- the Compensation Scheme of Last Resort
- Reference Checking and Information Sharing Protocol for financial advisers and mortgage brokers (Update of Information Sheet 257).