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Industry funding

To help industry participants understand the regulatory effort ASIC expended in the sectors we regulate, this chapter highlights the activities and outcomes achieved in each sector during this financial year.

ASIC industry funding means that those who create the need for regulation bear the costs of that regulation. Under the model, entities pay a share of the costs to regulate their subsector through industry levies, based on a range of business activity metrics, and cost recovery fees for service.

There are seven industry funding sectors (deposit-taking and credit; insurance; financial advice; investment management, superannuation and related services; market infrastructure and intermediaries; corporate; and large financial institutions) and 52 subsectors.

On 12 June 2020, ASIC published indicative industry levies for 2019–20 in our Cost Recovery Implementation Statement (CRIS), available on our website. As many businesses were focused on dealing with the impact of the COVID-19 pandemic when the CRIS was published, we extended the feedback period to allow entities additional time to provide comments.