Federal Register of Legislation - Australian Government

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This instrument specifies the Australian Securities and Investments Commission’s regulatory costs and their attribution to each sub-sector for the 2017 – 2018 financial year.
Administered by: Treasury
Registered 22 Nov 2018
Tabling HistoryDate
Tabled Senate26-Nov-2018
Tabled HR26-Nov-2018
Table of contents.

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ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2018/1062

I, Emily Hodgson, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date                20 November 2018

 

 

Emily Hodgson

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2018/1062.

2        Commencement

This instrument takes effect as follows:

(a)     if subsection 11(3) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the instrument takes effect on the day specified in paragraph 11(3)(a) of that Act;

(b)     if subsection 11(4) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the remaining provisions of the instrument take effect on the day specified in paragraph 11(4)(a) of that Act.

Note 1: Section 11 of the ASIC Supervisory Cost Recovery Levy Act 2017 contains special provisions dealing with the disallowance and taking effect of instruments of this kind.

Note 2: Subsection 9(9) of the ASIC Supervisory Cost Recovery Levy Act 2017 has the effect that the instrument can have retrospective application before the day it is registered on the Federal Register of Legislation. The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under subsection 12A(6) of the Australian Securities and Investments Commission Act 2001 for the purposes of subsection 10(2) of the ASIC Supervisory Cost Recovery Levy Act 2017.

4        Definitions

In this instrument:

(a)     Act means the ASIC Supervisory Cost Recovery Levy Act 2017;

(b)     unless the contrary intention appears, an expression that:

(i)    is used, but not defined, in this instrument; and

(ii)   is defined in the Act;

has the same meaning in this instrument as in the Act.


Part 2—Determination

5        Applicable financial year

This determination applies to the 2017 – 2018 financial year.

6        ASIC’s regulatory costs

ASIC’s regulatory costs for the financial year are $236,582,384.

7        Attribution of ASIC’s regulatory costs to each sub-sector

Column 3 of the table specifies the extent to which ASIC’s regulatory costs are attributable to the sub-sector specified in column 2 of the table.

 

Column 1

Column 2

Column 3

Item

Sub-sectors

Extent to which regulatory costs are attributable to the
sub-sector ($)

1

Auditors of disclosing entities

5,666,484

2

Australian derivative trade repository operators

               239,750

3

Corporate advisors

           4,766,509

4

Credit intermediaries

           5,739,767

5

Credit providers

         24,124,482

6

Credit rating agencies

               231,758

7

Custodians

               740,788

8

Deposit product providers

           3,114,271

9

Exempt CS facility operators

                 15,983

10

Exempt market operators

           1,134,816

11

Insurance product distributors

               943,422

12

Insurance product providers

         13,131,610

13

Large futures exchange operators

           1,435,573

14

Large futures exchange participants

           3,321,123

15

Large proprietary companies

           4,473,398

16

Large securities exchange operators

           3,800,648

17

Large securities exchange participants

         14,724,923

18

Licensees that provide only general advice to retail clients or wholesale clients 

               600,681

19

Licensees that provide personal advice on relevant financial products to retail clients

          25,634,226

20

Licensees that provide personal advice to only wholesale clients

               826,123

21

Licensees that provide personal advice to retail clients on only products that are not relevant financial products

            1,198,621

22

Listed corporations

50,415,253

23

Managed discretionary account providers

               742,236

24

Margin lenders

               148,261

25

Operators of investor directed portfolio services

           1,221,800

26

Overseas market operators

               519,458

27

Over-the-counter traders

           3,845,906

28

Payment product providers

               654,552

29

Public companies (unlisted)

2,341,376

30

Registered company auditors

929,499

31

Registered liquidators

           6,870,373

32

Responsible entities

         22,769,635

33

Retail over-the-counter derivatives issuers

           4,631,122

34

Risk management product providers

               286,118

35

Securities dealers

           1,482,730

36

Small amount credit providers

           1,295,509

37

Small derivative market operators

               479,500

38

Small futures exchange operators

               251,146

39

Small securities exchange operators

               536,478

40

Small securities exchange operators with self-listing function only

                 23,975

41

Superannuation trustees

           9,592,832

42

Tier 1 clearing and settlement facility operators

           1,614,315

43

Tier 2 clearing and settlement facility operators

               191,800

44

Tier 3 clearing and settlement facility operators

                 71,925

45

Tier 4 clearing and settlement facility operators

                 15,983

46

Traditional trustee company service providers

               296,522

47

Wholesale electricity dealers

               109,516

48

Wholesale trustees

           9,379,608