Regulatory tracker 2022
Items in this weekly tracker are listed in reverse chronological order.
Week beginning 19 December 2022
| Date | Regulatory document | Description | AGLS subject |
| 22/12/2022 | RG 1 AFS Licensing Kit: Part 1 – Applying for and varying an AFS licence (updated - issue date unchanged)
RG 2 AFS Licensing Kit: Part 2 – Preparing your AFS licence or variation application (updated - issue date unchanged) RG 3 AFS Licensing Kit: Part 3 – Preparing your additional proofs (updated - issue date unchanged) |
Partial updates to reflect the introduction of the ASIC MOVEit portal. | Financial services |
| 20/12/2022 | ASIC Derivative Transaction Rules (Reporting) 2022
ASIC Derivative Transaction Rules (Reporting) 2024 ASIC Corporations (Amendment) Instrument 2022/934 REP 755 Response to submissions on CP 361 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): Second consultation |
ASIC Derivative Transaction Rules (Reporting) 2022 repeals and remakes the ASIC Derivative Transaction Rules (Reporting) 2013 in the same form, so as to continue the requirements for reporting over-the-counter (OTC) derivatives transactions beyond the 1 October 2023 sunsetting of the 2013 Rules.
ASIC Derivative Transaction Rules (Reporting) 2024 implements the proposals consulted on in CP 361 in one stage commencing 21 October 2024, and updates the requirements to harmonise to various international reporting standards, remove outdated transitional provisions, consolidate associated exemptions and ensure that the reporting requirements are fit for purpose and clear as to the roles and responsibilities of reporting entities. REP 755 highlights the key issues that arose out of the submissions received on CP 361 and details our responses to those issues. |
Financial services |
| 20/12/2022 | ASIC Corporations (Employee Share Schemes) Instrument 2022/1021
ASIC Corporations (Amendment) Instrument 2022/1022 |
Facilitates employee share schemes (ESS) by removing unintended technical issues identified with the ESS provisions in Part 7.12 of the Corporations Act which commenced on 1 October 2022: see 22-370MR and CP 364
Amended: Class Orders [CO 14/1000] and [CO 14/1001] |
Financial services |
Week beginning 12 December 2022
| Date | Regulatory document | Description | AGLS subject |
| 14/12/2022 | ASIC Corporations and Credit (Amendment and Repeal) Instrument 2022/1032 | Extends the relief in ASIC Credit (Litigation Funding-Exclusion) Instrument 2020/37 and the ASIC Corporations (Conditional Costs Schemes) Instrument 2020/38 that has been provided since 17 January 2020 so that the relief continues to operate until 31 January 2026. The instrument revokes the relief for litigation funding schemes in ASIC Corporations (Disclosure in Dollars) Instrument 2016/767 and ASIC Corporations (Litigation Funding Schemes) Instrument 2020/787. | Credit |
| 13/12/2022 | REP 754 Target market determinations for small amount credit contracts | Summarises ASIC’s work in a targeted review of compliance with the design and distribution obligations by some Australian credit licensees offering small amount credit contracts. It highlights areas for improvement to help small amount credit contract lenders to consider, review and improve their target market determinations: see 22-352MR | Credit |
| 12/12/2022 | REP 753 ASIC enforcement and regulatory update: July to September 2022
|
Provides an overview of ASIC’s work and key matters between 1 July and 30 September 2022: see 22-349MR | Dealing with ASIC |
Week beginning 5 December 2022
| Date | Regulatory document | Description | AGLS subject |
| 9/12/2022 | REP 751 Disputes and deficiencies: A review of complaints handling by superannuation trustees
REP 752 Review of written responses to superannuation complaints |
REP 751 provides insights for compliance by superannuation trustees with enforceable obligations and guidance in RG 271 Internal dispute resolution and outlines areas for improvement.
REP 752 summarises the findings from an evaluation conducted for ASIC by Susan Bell Research of 274 responses to general superannuation complaints issued by 10 trustees. See 22-347MR |
Superannuation |
| 8/12/2022 | INFO 274 Tips for giving self-managed superannuation advice | Helps Australian financial services (AFS) licensees and their representatives comply with their obligations when providing personal advice about self-managed superannuation funds (SMSF) by:
See 22-345MR |
Financial services |
| 8/12/2022 | Public letter to CEOs of all life insurers and friendly societies (PDF 123 KB) | Outlines ASIC and APRA’s concerns following complaints from consumers and reportable situations related to premium increases, particularly in relation to ‘level’ premium products: see news item | Financial services |
Week beginning 28 November 2022
| Date | Regulatory document | Description | AGLS subject |
| 2/12/2022 | ASIC Corporations (Short Selling) Amendment Instrument 2022/968 | Amends certain sections of the ASIC Corporations (Short Selling) Instrument 2018/745 | Financial markets |
| 2/12/2022 | ASIC Market Integrity Rules (Securities Markets) Determination 2022/994
ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2022/995 |
Determines ASIC's policy of determining the allocation of Equity Market Products to tiers.
Repealed: ASIC Market Integrity Rules (Securities Markets) Determination 2022/787 |
Financial markets |
| 30/11/2022 | CP 365 Remaking ASIC class orders on takeovers, compulsory acquisitions, and relevant interests
Draft legislative instruments: |
Sets out ASIC’s proposals to remake the following class orders into legislative instruments related to takeovers, compulsory acquisitions and relevant interests:
See 22-331MR |
Takeovers
|
Week beginning 21 November 2022
| Date | Regulatory document | Description | AGLS subject |
| 24/11/2022 | ASIC Corporations (Financial Services Guides) Instrument 2022/910 | Exempts an authorised representative of a financial services licensee (the licensee) from the requirement to give a Financial Services Guide to a person as a retail client for the authorised representative providing a financial service on behalf of the licensee, subject to conditions: see 22-327MR | Financial services |
| 24/11/2022 | INFO 230 Exchange-traded products: Admission guidelines (reissued)
REP 750 Response to submissions on CP 356 ETP naming conventions: Updates to INFO 230
|
Updated guidance on naming conventions for licensed Australian exchanges that admit exchange traded products (ETPs), dividing the naming conventions into two levels of labelling:
See 22-325MR |
Financial markets |
Week beginning 14 November 2022
| Date | Regulatory document | Description | AGLS subject |
| 17/11/2022 | RG 8 Administrative hearings: Principles and conduct (reissued - new title)
RG 98 ASIC’s powers to suspend, cancel and vary AFS licences and make banning orders (reissued) |
Technical updates to ensure currency. | Dealing with ASIC |
| 14/11/2022 | ASIC Market Integrity Rules (Securities Markets) NSXA and SSX Markets (Operators and Participants) Class Waiver 2022/881 | Remakes ASIC Market Integrity Rules (Securities Markets) Class Waiver 2018/258, ASIC Waiver 18/260 and ASIC Waiver 18/261, consolidates them into a single legislative instrument, and extends the operation of the relief granted under them to 17 November 2024. | Financial markets |
Week beginning 7 November 2022
| Date | Regulatory document | Description | AGLS subject |
| 11/11/2022 | ASIC Corporations (Amendment) Instrument 2022/0940 | Amends the following legislative instruments to facilitate the implementation of the corporate collective investment vehicles (CCIV) regime in Australia, which commenced on 1 July 2022:
See 22-152MR |
Funds management |
| 9/11/2022 | ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2022/889
ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2022/890 |
Specifies:
under ASIC's industry funding model for the 2021–22 financial year. |
Dealing with ASIC |
Week beginning 24 October 2022
| Date | Regulatory document | Description | AGLS subject |
| 28/10/2022 | REP 743 Audit inspection report: 1 July 2021 to 30 June 2022
See also reports on six largest audit firms: REP 744 (BDO firms in Australia) REP 745 (Deloitte Touche Tohmatsu Australia) REP 746 (Ernst & Young Australia) REP 747 (Grant Thornton Australia Limited) REP 748 (KPMG Australia) REP 749 (PricewaterhouseCoopers Australia) |
Sets out findings from ASIC's review of audit files for period 1 July 2021 to 30 June 2022. It considers and suggests approaches to audit firm culture and talent, and outlines ASIC's focus areas for individual audits and our regulatory responses: see 22-296MR | Auditors |
| 27/10/2022 | REP 740 Insights from the reportable situations regime: October 2021 to June 2022 | ASIC’s first publication of the information provided under the reportable situations regime.
It provides high-level insights into the trends observed in reports lodged by licensees under the regime between 1 October 2021 and 30 June 2022. See 22-295MR |
Financial services |
| 26/10/2022 | INFO 222 Improving and maintaining audit quality | Technical updates to ensure currency. | Auditors |
| 25/10/2022 | ASIC Data Strategy 2021–26 (reissued - HTML) | Outlines ASIC's vision to fully harness our data assets and analytics capabilities, empowering our people to put data into action and enabling data-informed regulatory decisions (enhanced HTML version) | Dealing with ASIC |
| 25/10/2022 | REP 741 Conduct risk in wholesale fixed income markets
REP 742 Managing conflicts of interest in wholesale financial markets |
These reports summarise ASIC’s surveillance activities and complement existing ASIC regulatory guidance by providing practical examples of practices observed: see 22-288MR | Financial markets |
| 25/10/2022 | RG 206 Credit licensing: Competence and training (minor update) | Wording of Note 2 under para RG 206.8 updated to reflect the most current version of the Financial Services Training Package. | Credit |
Week beginning 17 October 2022
| Date | Regulatory document | Description | AGLS subject |
| 21/10/2022 | Cost recovery implementation statement - 2021-22 (new) | Details ASIC’s estimated levies by industry sector and subsector as required under the industry funding model. ASIC released the draft CRIS in June 2022 for feedback. The final statement summarises the feedback ASIC received: see 22-130MR and 22-285MR. | Dealing with ASIC |
| 20/10/2022 | REP 738 Licensing and professional registration activities: 2022 update (updated - first published 30/9/2022) | Minor updates to some of the data in Table 1. | Financial services |
| 19/10/2022 | REP 739 Root cause analysis: Audit firm thematic review | Summarises thematic findings from our review of root cause analysis of negative audit quality findings performed by the largest six audit firms between 1 July 2020 and 31 December 2021 (review period). The report also outlines good practices we observed and better practice recommendations for audit firms performing root cause analysis: see 22-283MR | Auditors |
| 19/10/2022 | INFO 80 How to interpret ASIC insolvency statistics (reissued) | Updated to reflect consolidation of Series 1, 1A, 1B and Series 2, 2A, 2B insolvency statistics into Series 1 and 2. INFO 80 now explains how to interpret Series 1, 2, 3, 4 and 4A (current insolvency stats). | Insolvency |
Week beginning 10 October 2022
| Date | Regulatory document | Description | AGLS subject |
| 14/10/2022 | ASIC Annual Report 2021-22 (new)
|
Outlines ASIC’s key regulatory and enforcement outcomes for 2021–22: see 22-276MR | Dealing with ASIC |
Week beginning 3 October 2022
| Date | Regulatory document | Description | AGLS subject |
| 6/10/2022 | RG 131 Funds management: Establishing and registering a fund (reissued)
RG 134 Funds management: Constitutions (reissued) RG 240 Hedge funds: Improving disclosure (reissued) RG 259 Risk management systems of fund operators (reissued - new title) |
Updates to support the licensing and other requirements for corporate collective investment vehicles (CCIVs) which came into effect on 1 July 2022, when the CCIVs regime commenced: see 22-152MR | Funds management |
Week beginning 26 September 2022
| Date | Regulatory document | Description | AGLS subject |
| 30/9/2022 | REP 738 Licensing and professional registration activities: 2022 update | Outlines ASIC’s licensing and professional registration activities, discusses new and proposed changes to our licensing processes, and notes other work that affects licensees: see 22-268MR | Financial services |
| 30/9/2022 | ASIC Corporations (Business Introduction Services) Instrument 2022/805
RG 129 Business introduction and matching services (reissued) |
Extends the relief for business introduction services for registered managed investment schemes until 1 April 2025, which was due to expire on 1 October 2022: see 22-267MR | Funds management |
| 30/9/2022 | INFO 170 MySuper product dashboard requirements for superannuation trustees (reissued) | Reissued to include updated guidance on how to disclose historical returns in circumstances where there has been a significant change to product design, strategy or governance in a MySuper product. Additional changes include clarification on the disclosure required for the moving average return when disclosing the comparison between the return target and the returns for previous financial years, additional comments on APRA reporting standards and technical legal updates. | Superannuation |
| 29/9/2022 | CP 364 Modifications to the ESS regime
Attachment to CP 364: Draft instrument (PDF 254 KB) |
Sets out our proposals on relief for secondary sales of financial products issued by listed entities, clarification of salary sacrificing arrangements and financial information that unlisted companies may provide to facilitate the employee share scheme provisions in Pt 7.12 of the Corporations Act 2001: see 22-265MR | Fundraising |
| 28/9/2022 | ASIC Corporations (Cash Settlement Fact Sheet and Confirming Transactions) Instrument 2022/809 | Exempts insurers from providing certain notifications where doing so creates risks of family violence: see 22-261MR | Financial services |
| 27/9/2022 | RG 277 Consumer remediation (new)
REP 737 Response to submissions on CP 350 Consumer remediation: Further consultation Attachment to REP 737: What has changed since RG 256 (PDF 325 KB) |
Comprehensive guidance that allows licensees to scale and tailor their remediations to fit the circumstances: see 22-260MR
|
Financial services |
Week beginning 12 September 2022
| Date | Regulatory document | Description | AGLS subject |
| 15/09/2022 | RG 148 Platforms that are managed investment schemes and nominee and custody services (partial update)
RG 175 Licensing: Financial product advisers—Conduct and disclosure (partial update) RG 184 Superannuation: Delivery of product disclosure for investment strategies (reissued) |
Updates made as a result of CP 358: see 22-142MR. There are no substantive changes to our guidance in RG 184. Formatting has been updated and repealed legislative instruments have been removed. | Financial services Funds management |
| 14/9/2022 | ASIC Corporations and Superannuation (Website Disclosure Deferral) Instrument 2022/808 | Exempts the Applicants from specified public disclosure obligations under the Superannuation Industry (Supervision) Act 1993, Superannuation Industry (Supervision) Regulations 1994, and the Corporations Act 2001 during a 3 month deferral period. | Superannuation |
| 13/9/2022 | INFO 202 Disputes about the financial advisers register | Technical amendments to ensure currency. | Dealing with ASIC |
Week beginning 5 September 2022
| Date | Regulatory document | Description | AGLS subject |
| 8/9/2022 | ASIC Data Strategy 2021–26 (new - PDF) | Outlines ASIC's vision to fully harness our data assets and analytics capabilities, empowering our people to put data into action and enabling data-informed regulatory decisions. | Dealing with ASIC |
| 7/9/2022 | ASIC Corporations (Amendment) Instrument 2022/719 | Amends several instruments to implement temporary measures to assist unlisted entities affected by the impacts of COVID-19 by allowing them up to one additional month to complete financial reports and have those reports audited.
Amended: |
Financial reporting |
| 6/9/2022 | ASIC Corporations (Repeal) Instrument 2022/704
ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705 |
Imposes specific financial requirements on AFS licensees that are authorised to make a market in over-the-counter (OTC) derivatives to retail clients. It modifies the Corporations Act by inserting s 912AB. Section 912AB requires retail OTC derivative issuers to comply with additional provisions set out in the instrument as part of satisfying the obligation to have adequate financial resources under paragraph 912A(1)(d) of the Corporations Act.
Repealed: Class Order [CO 12/752] |
Financial markets |
| 5/9/2022 | ASIC Corporations (Product Intervention Order Extension—Binary Options) Instrument 2022/779
REP 736 Response to submissions on CP 362 Extension of the binary options product intervention order |
Extends ASIC's product intervention order banning the issue and distribution of binary options to retail clients until 1 October 2031: see 22-243MR | Financial markets |
| 5/9/2022 | ASIC Market Integrity Rules (Securities Markets) Determination 2022/787
ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2022/788 |
Determines ASIC's policy of determining the allocation of Equity Market Products to tiers.
Repealed: ASIC Market Integrity Rules (Securities Markets) Determination 2022/482 |
Financial markets |
| 5/9/2022 | ASIC Corporations (Amendment) Instrument 2022/775 | Amends the ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2015/844 to extend the operation of certain conditional exemptions and to exempt spot settlement transactions from transaction reporting requirements and position reporting requirements under the ASIC Derivative Transaction Rules (Reporting) 2013. | Financial markets |
Week beginning 29 August 2022
| Date | Regulatory document | Description | AGLS subject |
| 30/8/2022 | RG 169 Hawking and disclosure: Discretionary powers (reissued) | There are no substantive changes to our guidance. Formatting has been updated and repealed legislative instruments have been removed. The title of the guide has been changed to 'Hawking and disclosure: Discretionary powers'. | Financial services |
Week beginning 22 August 2022
| Date | Regulatory document | Description | AGLS subject |
| 22/8/2022 | ASIC’s Corporate Plan 2022-26 - Focus 2022-23 | Outlines ASIC's strategic priorities for the next four years and its plan of action for the year ahead: see 22-227MR | Dealing with ASIC |
Week beginning 15 August 2022
| Date | Regulatory document | Description | AGLS subject |
| 16/8/2022 | ASIC Corporations (Incidental Retail Cover) Instrument 2022/716 | Exempts insurers and brokers from certain retail client obligations in Chapter 7 of the Corporations Act 2001 for ‘incidental retail cover’ provided in business insurance contracts: see 22-222MR | Financial services |
Week beginning 8 August 2022
| Date | Regulatory document | Description | AGLS subject |
| 11/8/2022 | REP 735 Retail investor research | Provides a point-in-time snapshot of investor behaviour during a period of increased activity in retail markets since the onset of the COVID-19 pandemic, supplementing existing market data and research conducted in Australia and overseas. Prepared by SEC Newgate in close consultation with ASIC: see 22-215MR | Financial services |
Week beginning 1 August 2022
| Date | Regulatory document | Description | AGLS subject |
| 3/8/2022 | RG 263 Financial Services and Credit Panel (reissued)
INFO 273 FSCP decisions: Your rights (new) REP 734 Response to submissions on CP 359 Update to RG 263 Financial Services and Credit Panel |
New guidance about the Financial Services and Credit Panel (FSCP):
See 22-206MR |
Financial services |
| 2/8/2022 | ASIC Corporations (Amendment) Instrument 2022/623 | Extends for a further 12 months the transitional relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services (AFS) licence when providing financial services to Australian wholesale clients.
Amended:
Also delays the commencement of the ASIC Corporations (Foreign Financial Services Providers—Funds Management Financial Services) Instrument 2020/199 until 1 April 2024 See 22-203MR |
Financial services |
| 2/8/2022 | RG 172 Financial markets: Domestic and overseas operators (reissued)
RG 241 Electronic trading (reissued) RG 265 Guidance on ASIC market integrity rules for participants of securities markets (reissued) RG 266 Guidance on ASIC market integrity rules for participants of futures markets (reissued)
|
Updated guidance on payment for order flow, operational resilience and ASIC portal transition.
Updates made are a result of:
|
Financial markets |
Week beginning 25 July 2022
| Date | Regulatory document | Description | AGLS subject |
| 28/7/2022 | REP 733 ASIC enforcement and regulatory update: April to June 2022
|
Provides an update on ASIC’s work between 1 April and 30 June 2022: see 22-193MR | Dealing with ASIC |
Week beginning 18 July 2022
| Date | Regulatory document | Description | AGLS subject |
| 21/7/2022 | RG 69 Debentures and notes: Improving disclosure for retail investors (partial update)
RG 156 Advertising of debentures and notes to retail investors (partial update) |
References to Class Order [CO 12/1482] When debentures can be called secured notes updated to ASIC Corporations (Describing Debentures—Secured Notes) Instrument 2022/61 and references to other regulatory documents updated to maintain currency. | Companies |
Week beginning 11 July 2022
| Date | Regulatory document | Description | AGLS subject |
| 15/7/2022 | INFO 268 FAQs: Regulation and registration of relevant providers who provide tax (financial) advice services (reissued) | Technical updates to clarify some of the questions presently covered by the information sheet and to include some additional questions that have been raised by industry. | Financial services |
| 14/7/2022 | REP 732 Pump and dump of micro-cap securities | This report summarises our review of a series of pump and dump events that occurred in listed equity markets over 2020–21. These events had a high impact on the traded prices of micro-cap securities. | Financial markets |
| 13/7/2022 | ASIC Corporations (Product Intervention Order—Short Term Credit) Instrument 2022/647
Public notice—Short Term Credit (PDF 400 KB) ASIC Corporations (Product Intervention Order—Continuing Credit Contracts) Instrument 2022/648 Public notice—Continuing Credit Contracts (PDF 512 KB) |
Prohibits the provision of short term credit and continuing credit contracts which involve unreasonably high fees charged to retail clients, in excess of the cost caps in the relevant exemptions in subsections 6(1) and 6(5) of the National Credit Code: see 22-182MR | Credit
|
Week beginning 4 July 2022
| Date | Regulatory document | Description | AGLS subject |
| 8/7/2022 | No-action letter – Notifying joint account holders (family violence) (PDF 187 KB) | Adopts a temporary no-action position to enable large banks (‘eligible licensees’) to withhold the reporting of certain credit information on consumer credit reports where reporting the information could lead to consumer harm, including where a consumer may be the victim of family violence: see 22-175MR | Credit |
| 6/7/2022 | ASIC Corporations (Adara Advisors) Instrument 2022/625 | Exempts representatives (Volunteers) of Adara Advisors from needing to be appointed as authorised representatives of both Adara Advisors and another licensee (Volunteer Firm), as would otherwise be required by subsection 911B(1) of the Corporations Act | Financial services |
| 5/7/2022 | RG 276 Superannuation forecasts: Calculators and retirement estimates (reissued)
RG 167 AFS licensing: Discretionary powers (reissued) REP 731 Response to submissions on CP 351 Superannuation forecasts: Update to relief and guidance ASIC (Superannuation Calculators and Retirement Estimates) Instrument 2022/603 ASIC Corporations (Amendment) Instrument 2022/604 |
Updates the relief which facilitates the provision of superannuation calculators and retirement estimates: see 22-173MR
Amended: ASIC Corporations (Generic Calculators) Instrument 2016/207 |
Superannuation |
| 5/7/2022 | INFO 28 About the court enforceable undertakings register (reissued) | Technical update to reflect the reissue of RG 100 in November 2021 related to the change in terminology from 'enforceable undertakings' to 'court enforceable undertakings'. | Dealing with ASIC |
| 4/7/2022 | ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449 | Prescribes the applicable financial resources requirements for corporate directors of retail CCIVs: see 22-152MR | Funds management |
Week beginning 27 June 2022
| Date | Regulatory document | Description | AGLS subject |
| 1/7/2022 | RG 260 Communicating findings from audit files to directors, audit committees or senior managers (reissued)
REP 730 Response to submissions on CP 352 Communicating audit findings to directors, audit committees or senior managers |
Updated to reflect ASIC's new policy to routinely communicate negative findings from its reviews of audit files to directors, rather than the current exception basis: see 22-172MR | Auditors |
| 30/6/2022 | CP 363 Remaking ASIC class order on financial requirements for retail OTC derivative issuers | Seeks feedback on ASIC’s proposal to remake, without significant changes, Class Order [CO 12/752] Financial requirements for retail OTC derivative issuers which will expire (‘sunset’) if not remade: see 22-166MR | Financial markets |
| 28/6/2022 | RG 274 Product design and distribution obligations (minor update) | Note at RG 274.157 and RG 274.162 amended to state that issuers must provide significant dealing notifications to ASIC through the ASIC Regulatory Portal. | Financial services |
Week beginning 20 June 2022
| Date | Regulatory document | Description | AGLS subject |
| 24/6/2022 | REP 729 Review of trustee communications about the MySuper performance test | Provides an update on ASIC’s work on superannuation trustee communications relating to the annual performance test introduced in 2021 as part of the Your Future, Your Super reforms. It sets out our findings and our expectations of trustees for future communications about performance: see 22-154MR | Superannuation |
| 24/6/2022 | ASIC Corporations (Amendment) Instrument 2022/519 | Amends the ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 for changes to legislation impacting the financial reporting requirements of entities under the Corporations Act. | Financial reporting |
| 24/6/2022 | ASIC Corporations (Redraw Facility Transfer) Instrument 2022/599 | Provides an exemption under s994L(1)(a) of the Corporations from compliance with Part 7.8A in relation to certain replacement credit contracts | Credit |
| 23/6/2022 | INFO 272 How to register a corporate collective investment vehicle and sub-fund
REP 728 Response to submissions on CP 360 Corporate collective investment vehicles: Preparing for the commencement of the new regime ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449 Reissued guidance (23/6/2022): Reissued guidance (6/7/2022): |
Documents to support the licensing and other requirements for corporate collective investment vehicles (CCIVs) which come into effect on 1 July 2022, when the CCIVs regime commences: see 22-152MR | Funds management |
Week beginning 13 June 2022
| Date | Regulatory document | Description | AGLS subject |
| 17/6/2022 | ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301 | Exempts Authorised Representatives from the requirement to notify ASIC of the sub-authorisation of employees who provide a claims handling or settling service in relation to general or consumer credit insurance products: see 22-146MR | Financial services |
| 14/6/2022 | ASIC Corporations (In-use Notices for Employer-sponsored Superannuation and Superannuation Dashboards) Instrument 2022/496
ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497 ASIC Corporations (Financial Services Guide Given in a Time Critical Situation) Instrument 2022/498 ASIC Corporations (Repeal) Instrument 2022/499 |
ASIC has remade and combined seven legislative instruments which were due to sunset in the next two years providing relief in relation to:
Four further redundant legislative instruments have also been repealed. See 22-142MR Repealed: |
Financial services |
| 14/6/2022 | INFO 271 How to avoid greenwashing when offering or promoting sustainability-related products | Guidance to help issuers avoid ‘greenwashing’ when offering or promoting sustainability-related products and provide investors with the information they should have to make informed decisions: see 22-141MR | Financial services |
Week beginning 6 June 2022
| Date | Regulatory document | Description | AGLS subject |
| 10/6/2022 | ASIC Market Integrity Rules (Capital, Securities Markets) Barclays Capital Asia Limited Waiver 2022/516 | Provides conditional waivers granted to Barclays Capital Asia Limited under the ASIC Market Integrity Rules (Capital) 2021 and the ASIC Market Integrity Rules (Securities Markets) 2017 in relation to capital reporting requirements and record keeping. | Financial markets |
| 9/6/2022 | INFO 270 Warnings and reprimands | Explains the new requirement for ASIC to give warnings and reprimands to financial advisers in specified circumstances under the Better Advice Act: see 22-139MR | Financial services |
| 7/6/2022 | ASIC Market Integrity Rules (Securities Markets and Futures Markets) Amendment Instrument 2022/329 | Amends:
to provide for a specific date of commencement. |
Financial markets |
| 6/6/2022 | Draft Cost Recovery Implementation Statement 2021–22 (for feedback) | Outlines ASIC’s estimated regulatory costs for 2021–22 and indicative levies based on our planned regulatory work and associated costs for the 2021–22 financial year.
Feedback on the draft CRIS can be submitted until 28 June 2022: see 22-130MR |
Dealing with ASIC |
| 6/6/2022 | ASIC Market Integrity Rules (Securities Markets) Determination 2022/482
ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2022/483 |
Maintains ASIC's policy of determining the allocation of Equity Market Products to Tier 1 and Tier 2, commencing 11 July 2022.
Repealed: ASIC Market Integrity Rules (Securities Markets) Determination 2022/134 |
Financial markets |
| 6/6/2022 | ASIC (Amendment) Instrument 2022/0427 | Amends the ASIC (Senior Staff Members—Determination) Instrument 2019/117, expanding definitions and enabling certain ATO staff to perform and exercise registry functions and powers. | Dealing with ASIC |
Week beginning 30 May 2022
| Date | Regulatory document | Description | AGLS subject |
| 2/6/2022 | Updated ePayments Code | Provides enhancements to and clarifies a number of existing protections for consumers including covering payments made using the New Payments Platform. ASIC has also updated the following areas of the Code:
See 22-125MR |
Financial services
|
| 31/5/2022 | Notifiable instruments:
ASIC Corporations (Law Societies—Fidelity and Indemnity Schemes) Instrument 2022/435 ASIC Corporations (Law Societies—Statutory Deposit Accounts and Public Purpose Funds) Instrument 2022/436 ASIC Corporations (Foreign Financial Services Provider—Queensland Fidelity and Indemnity Schemes) Instrument 2022/437 See also: Instrument 22/0438 (ASIC Gazette A23/22) |
Exempts law societies of Australia's states and territories and Lexon from obligations under the Corporations Act in relation to the fidelity and indemnity schemes and statutory deposit accounts and public purpose funds for which they are responsible.
Repealed: [SCO 03/1094], [SCO 03/1095], [SCO 04/265], [SCO 04/266], [SCO 05/678], [SCO 05/679], [SCO 06/468], [SCO 08/385] and [SCO 09/537] |
Financial services |
Week beginning 23 May 2022
| Date | Regulatory document | Description | AGLS subject |
| 26/5/2022 | CP 362 Extension of the binary options product intervention order | Summarises ASIC’s analysis of the impact of our product intervention order banning the issue and distribution of binary options to retail clients.
It also sets out our proposal to extend the order so that it will remain in force until it is revoked or sunsets. The proposal is subject to consultation and Ministerial approval. See 22-118MR |
Financial services
|
| 26/5/2022 | REP 727 Regulator Performance Framework: ASIC self-assessment 2020–21 | Provides a set of six common key performance indicators (KPIs) for Australian Government regulators.
Sets out ASIC’s self-assessment of its performance against the KPIs in 2020–21. It supplements ASIC’s Annual report 2020–21. |
Financial services |
Week beginning 16 May 2022
| Date | Regulatory document | Description | AGLS subject |
| 16/5/2022 | CP 361 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): Second consultation | Sets out further proposals to amend the ASIC Derivative Transaction Rules (Reporting) 2013 made under s901A of the Corporations Act 2001, following the first round of consultation in Consultation Paper 334 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): First consultation (CP 334).
Provides feedback on the first round of consultation. |
Financial markets |
Week beginning 9 May 2022
| Date | Regulatory document | Description | AGLS subject |
| 13/5/2022 | REP 726 Response to submissions on CP 353 Proposed amendments to the ASIC Derivative Transaction Rules (Clearing) 2015
ASIC Derivative Transaction Rules (Clearing) Amendment Instrument 2022/224 |
Highlights the key issues that arose out of the submissions received on Consultation Paper 353 Proposed amendments to the ASIC Derivative Transaction Rules (Clearing) 2015 (CP 353) and details our response to those issues. | Financial markets |
| 10/5/2022 | INFO 226 Complying with the ASIC Client Money Reporting Rules 2017 (updated) | Updated guidance for AFS licensees lodging records and declarations:
|
Financial markets |
| 10/05/2022 | INFO 265 Reports of suspicious activity in FICC markets (updated) | Updated guidance for market intermediaries about reporting suspicious activity in fixed income, currencies and commodities (FICC) markets (FICC SARs) and how these reports should be lodged on the ASIC Regulatory Portal using the relevant the form. | Financial markets |
Week beginning 25 April 2022
| Date | Regulatory document | Description | AGLS subject |
| 28/4/2022 | REP 725 ASIC quarterly update: January to March 2021 | Provides an update on ASIC’s work undertaken between 1 January and 31 March 2022, including: • acting against misconduct • upholding market integrity • implementing new obligations, and • protecting consumers and investors See Article |
Dealing with ASIC |
Week beginning 18 April 2022
| Date | Regulatory document | Description | AGLS subject |
| 19/4/2022 | ASIC Corporations (Amendment) Instrument 2022/264 | Extends the relief from certain dollar disclosures in PDSs for litigation funding schemes in ASIC Corporations (Disclosure in Dollars) Instrument 2016/767 (dollar disclosure instrument) until 1 October 2026. The existing relief was due to expire on 28 April 2022: see 22-093MR | Funds management |
Week beginning 4 April 2022
| Date | Regulatory document | Description | AGLS subject |
| 8/4/2022 | RG 268 Licensing regime for financial benchmark administrators (reissued) | Adds new paragraphs 268.67–268.70 which deal with market announcements to address the possible cessation of a licensed benchmark | Financial markets |
| 6/4/2022 | ASIC Corporations (Product Intervention Order Extension—Contracts for Difference) Instrument 2022/259
REP 724 Response to submissions on CP 348 Extension of the CFD product intervention order |
Extends ASIC's product intervention order imposing conditions on the issue and distribution of contracts for difference (CFDs) for a further five years to 23 May 2027: see 22-082MR | Financial services |
| 5/4/2022 | ASIC Market Integrity Rules (Securities Markets and other ASIC-Made Rules) Amendment Instrument 2022/248 | Amends ASIC Market Integrity Rules (Securities Markets and other ASIC-Made Rules) Amendment Instrument 2022/117 | Financial markets |
| 4/4/2022 | INFO 260 FAQs: Timeframe for passing the financial adviser exam (reissued) | Technical updates to reflect amendments made to the Corporations Act by the Better Advice Act and ASIC Instrument 2022/241 | Financial services |
Week beginning 28 March 2022
| Date | Regulatory document | Description | AGLS subject |
| 1/4/2022 | ASIC Corporations (Existing Providers) Instrument 2022/241 | Puts in place interim measures to address an unintended prohibition on AFS licensees authorising certain Existing Providers to provide personal advice to retail clients in relation to relevant financial products. | Financial services |
| 31/3/2022 | ASIC Corporations (Repeal and Transitional—Relief for Providers of Retirement Estimates) Instrument 2022/204 | Repeals Class Order [CO 11/1227] Relief for providers of retirement estimates, and provides transitional relief to extend its effect until the end of 31 December 2022: see 22-073MR | Financial services |
| 30/3/2022 | IDR data reporting handbook
ASIC Corporations (Internal Dispute Resolution Data Reporting) Instrument 2022/205 |
Outlines the final mandatory requirements for firms to report internal dispute resolution (IDR) data under the IDR data reporting framework: see 22-071MR and RG 271 | Financial services |
| 30/3/2022 | ASIC Corporations (Amendment) Instrument 2022/0077
REP 723 Response to submissions on CP 357 Remaking relief for business introduction services
|
Extends the existing relief for business introduction services until 1 October 2022. The extended relief is subject to a new requirement that persons who rely on the relief from 1 April 2022 must provide notice to ASIC: see 22-070MR, CP 357 and submissions and RG 129 Amended: ASIC Corporations (Repeal and Transitional) Instrument 2017/186 |
Financial services |
| 30/3/2022 | ASIC Corporations (Commonwealth Financial Counselling—Financial Capability Services) Instrument 2022/221 | Provides Australian financial services licensing relief for financial capability service providers who provide financial product advice about basic deposit products. | Financial services |
| 30/3/2022 | ASIC Corporations (Amendment) Instrument 2022/206 | Amends ASIC Corporations (Derivative Clearing Exemption) Instrument 2018/209 so that Clearing Entities are not required to comply with Rule 2.1.1 of the Rules in respect of AUD FRAs entered into before 2 April 2024. | Financial markets |
| 28/3/2022 | REP 722 ASIC enforcement update July to December 2021 | Provides an update on our enforcement action between 1 July and 31 December 2021: see 22-066MR | Dealing with ASIC |
| 28/3/2022 | ASIC Corporations (Describing Debentures – Secured Notes) Instrument 2022/61
ASIC Corporations (Repeal) Instrument 2022/62 |
Remakes Class Order [CO 12/1482] When debentures can be called secured notes, which was due to sunset on 1 April 2022, without substantial change: see 22-068MR | Fundraising |
| 28/3/2022 | Updated regulatory guides: | Minor updates in relation to the breach reporting reforms that commenced on 1 October 2021 requiring Australian financial services licensees and Australian credit licensees to notify ASIC of reportable situations. (NOTE: Issue dates unchanged) | Financial services |
Week beginning 21 March 2022
| Date | Regulatory document | Description | AGLS subject |
| 25/3/2022 | RG 85 Reporting requirements for non-reporting entities | RG 85 provides guidance on the reporting requirements for non-reporting entities that prepare special purpose financial reports (SPFRs). From 30 June 2022 year ends, RG 85 is only relevant to non-reporting entities in the public sector and some not-for-profit private sector entities. For-profit private sector entities will no longer be able to use SPFRs. | Financial reporting |
| 21/3/2022 | INFO 269 Discussing financial products and services online | Provides guidance about discussing financial products and services online, outlining how the law applies to social media influencers, and the licensees who use them: see 22-054MR | Financial services |
Week beginning 14 March 2022
| Date | Regulatory document | Description | AGLS subject |
| 17/3/2022 | CP 360 Corporate collective investment vehicles: Preparing for the commencement of the new regime
|
Seeks feedback on our proposed guidance on corporate collective investment vehicles (CCIVs). It includes proposals on how we will:
See 22-050MR |
Funds management |
| 16/3/2022 | ASIC Market Integrity Rules (Futures Markets) Class Waiver Amendment Instrument 2022/139 | Amends the ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313 to extend it to 22 March 2024 | Financial markets |
Week beginning 7 March 2022
| Date | Regulatory document | Description | AGLS subject |
| 10/3/2022 | REP 719 Response to submissions on CP 314 Market integrity rules for technological and operational resilience
ASIC Market Integrity Rules (Securities Markets and Futures Markets) Amendment Instrument 2022/74 REP 720 Response to submissions on CP 342 Proposed amendments to the ASIC market integrity rules and other ASIC-made rules ASIC Market Integrity Rules (Securities Markets and other ASIC-Made Rules) Amendment Instrument 2022/117 REP 721 Response to submissions on CP 347 Proposed amendments to the prohibition on order incentives in the ASIC market integrity rules ASIC Market Integrity Rules (Securities Markets) Amendment 2022/73 |
Amended market integrity rules to:
See 22-045MR |
Financial markets |
| 8/3/2022 | ASIC Market Integrity Rules (Securities Markets) Determination 2022/134
ASIC Market Integrity Rules (Securities Markets) Repeal Instrument 2022/135 |
Maintains ASIC's policy of determining the allocation of Equity Market Products to tiers, commencing 8 April 2022.
Repealed: Instrument 2021/991 |
Financial markets |
| 7/3/2022 | REP 718 Response to submissions on CP 341 Review of the ePayments Code: Further consultation | Highlights the key issues that arose out of the submissions received on Consultation Paper 341 Review of the ePayments Code: Further consultation (CP 341) and details our responses to those issues: see 22-041MR | Financial markets |
| 7/3/2022 | RG 242 ASIC’s power to wind up abandoned companies (reissued) | Minor technical changes related to the transfer of administrative responsibilities for the Fair Entitlements Guarantee scheme (FEG program) from the Department of Jobs to the Attorney-General's Department. | Liquidators |
Week beginning 28 February 2022
| Date | Regulatory document | Description | AGLS subject |
| 3/3/2022 | ASIC Corporations (Virtual-only Meetings) Instrument 2022/129 | Relief to allow additional time for certain companies and registered schemes to hold virtual-only meetings, subject to conditions, to address challenges presented by the COVID-19 pandemic: see 22-035MR | Companies |
| 2/3/2022 | ASIC Corporations (Cash Settlement Fact Sheet) Instrument 2022/59
(issued 8/2/22) |
Alows insurers to give emergency payments to consumers in certain circumstances without first giving them a Cash Settlement Fact Sheet (CSFS): see 22-034MR | Financial services |
| 28/2/2022 | CP 359 Update to RG 263 Financial Services and Credit Panel | Sets out ASIC’s proposals to update Regulatory Guide 263 Financial Services and Credit Panel (RG 263) to reflect legislative changes in the Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Act 2021 (Better Advice Act): see 22-033MR | Dealing with ASIC |
Week beginning 21 February 2022
| Date | Regulatory document | Description | AGLS subject |
| 25/2/2022 | ASIC Credit (Amendment) Instrument 2022/81 | Amends [CO 14/41] Extension of transitional credit hardship provisions to extend the relief for simple arrangements following a hardship notice to 1 April 2024: see 22-031MR | Credit |
| 22/2/2022 | INFO 29 External administration, controller appointments and schemes of arrangement: Most commonly lodged forms | Technical amendments to ensure currency. | |
| 21/2/2022 | ASIC Corporations (PDS Requirements for General Insurance Quotes) Instrument 2022/66
ASIC Corporations (Repeal) Instrument 2022/65 |
Continues to provide relief to address the practical difficulties for general insurers in giving a Product Disclosure Statement (PDS) to a consumer during a phone call. Replaces [CO 11/842] which was due to expire ('sunset') on 1 April 2022: see 22-028MR and CP 344) | Financial services |
Week beginning 14 February 2022
| Date | Regulatory document | Description | AGLS subject |
| 18/2/2022 | CP 358 Remaking ASIC relief on PDSs, superannuation dashboards and FSGs
Attachment 1 to CP 358: Draft legislative instrument (PDF 295 KB) Attachment 2 to CP 358: Draft legislative instrument (PDF 383 KB) Attachment 3 to CP 358: Draft legislative instrument (PDF 251 KB) |
ASIC’s proposal to remake relief contained in seven legislative instruments relating to specific financial services disclosure requirements. Most of the instruments are due to expire (‘sunset’) in the next two years if not remade: see 22-024MR | Financial services |
| 15/2/2022 | INFO 24 Deeds of cross-guarantee (reissued) | Updates in relation to electronic signing and lodgement of documents for the purposes of ASIC Corporations (Wholly-owned Companies) Instrument 2016/785. | Financial reporting |
Week beginning 7 February 2022
| Date | Regulatory document | Description | AGLS subject |
| 10/2/2022 | ASIC Corporations (Amendment) Instrument 2022/20 | Amends ASIC Corporations (Financial Counselling Agencies) Instrument 2017/792 to ensure that the relief which financial counselling agencies rely upon is not disrupted by the claims handling law reforms. | Financial services |
Week beginning 31 January 2022
| Date | Regulatory document | Description | AGLS subject |
| 3/2/2022 | REP 717 ASIC quarterly update: October to December 2021 | Provides an update on ASIC’s work undertaken between 1 October and 31 December 2021: see 22-011MR | Dealing with ASIC |
| 31/1/2022 | Governance of responsible entities (PPT 245KB) | Presents the findings from a high-level review by ASIC of the governance practices of 10 large responsible entities of managed investment schemes: see article | Funds management |
Week beginning 24 January 2022
| Date | Regulatory document | Description | AGLS subject |
| 25/1/2022 | CP 357 Remaking relief for business introduction services: ASIC Instrument 2017/186 | Sets out ASIC’s proposals to amend its relief for business introduction services under ASIC Corporations (Repeal and Transitional) Instrument 2017/186, which is due to expire (‘sunset’) on 1 April 2022: see 22-007MR | Financial services |
| 24/1/2022 | ASIC privacy policy (reissued) | Reissued to:
|
Dealing with ASIC |
| 24/1/2022 | ASIC Market Integrity Rules (Securities Markets) Class Waiver (Amendment) Instrument 2022/25 | Extends the relief in ASIC Market Integrity (Securities Markets) Class Waiver 2018/303 until 30 November 2023. | Financial markets |
Week beginning 17 January 2022
| Date | Regulatory document | Description | AGLS subject |
| 20/1/2022 | CP 356 ETP naming conventions: Updates to INFO 230 | Seeks feedback on ASIC's proposals to update the guidance in Information Sheet 230 Exchange traded products: Admission guidelines (INFO 230) on naming conventions for licensed Australian exchanges that admit exchange traded products (ETPs): see 22-003MR | Financial markets |