Submission

Friday, 10 March 2017

ASIC levies draft bills

AIST strongly supports the introduction of an ASIC industry funding model and the move towards greater transparency. However, AIST does not support carve-outs from complying with the Government’s Cost Recovery Guidelines (CRG). The objectives set out in the Levies Bill need to reflect compliance with the CRG, and that the levies raised need to reflect the volume of ASIC’s focus on particular entities and sub-sectors (including profit-to-members and for-profit subsectors). It is critical that consultation also occurs regarding any draft Regulations, which will set the levy calculation methodology.