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 industry sub-sector for the 2021-22 financial year.
Administered by: Treasury
Registered 10 Nov 2022
Tabling HistoryDate
Tabled HR21-Nov-2022
Tabled Senate21-Nov-2022
Table of contents.

Commonwealth Coat of Arms and ASIC logo

ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2022/889

I, Peter Dunlop, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date    9 November 2022

 

 

 

 

 

Peter Dunlop              

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2022/889.

2        Commencement and date of effect

(1)     This instrument commences on the day after it is registered on the Federal Register of Legislation.

 Note:   The register may be accessed at www.legislation.gov.au.

(2)     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 10(8) 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; and

(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 2021–22 financial year.

6        ASIC’s regulatory costs

ASIC’s regulatory costs for the financial year are $313,308,684.

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

6,796,365

2

Australian derivative trade repository operators

130,433

2A

Benchmark administrators

220,094

2B

Claims handling and settling services providers

1,218,800

3

Corporate advisors

1,929,606

4

Credit intermediaries

8,675,583

5

Credit providers

31,837,090

6

Credit rating agencies

123,286

7

Custodians

350,612

8

Deposit product providers

12,010,118

8A

Established specialised market operators

642,065

9

Exempt CS facility operators

10,729

10

Exempt market operators

87,438

11

Insurance product distributors

3,131,482

12

Insurance product providers

24,254,744

13

Large futures exchange operators

1,597,741

14

Large futures exchange participants

4,586,328

15

Large proprietary companies

6,375,617

16

Large securities exchange operators

4,965,301

17

Large securities exchange participants

20,833,594

18

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

1,290,504

19

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

22,775,473

20

Licensees that provide personal advice to only wholesale clients

50,938

21

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

73,059

22

Listed corporations

47,138,480

23

Managed discretionary account providers

1,774,421

24

Margin lenders

9,326

24A

New specialised market operators

3,293

25

Operators of investor directed portfolio services

443,430

25A

Operators of notified foreign passport funds and regulated former notified funds

0

26

Overseas market operators

287,556

27

Over-the-counter traders

15,875,834

28

Payment product providers

2,415,512

29

Public companies (unlisted)

3,702,529

30

Registered company auditors

1,457,764

31

Registered liquidators

4,129,675

32

Responsible entities

23,388,141

33

Retail over-the-counter derivatives issuers

10,512,906

34

Risk management product providers

371,446

35

Securities dealers

4,361,021

36

Small and medium amount credit providers

4,630,253

38

Small futures exchange operators

110,272

39

Small securities exchange operators

573,970

40

Small securities exchange operators with self-listing function only

1,098

41

Superannuation trustees

32,165,493

42

Tier 1 clearing and settlement facility operators

1,731,652

43

Tier 2 clearing and settlement facility operators

117,071

44

Tier 3 clearing and settlement facility operators

11,341

45

Tier 4 clearing and settlement facility operators

1,067

46

Traditional trustee company service providers

91,406

47

Wholesale electricity dealers

72,040

48

Wholesale trustees

3,964,687