Industry funding arrangements for ASIC became law on 1 July 2017. All organisations that are regulated by ASIC will contribute towards ASIC’s regulatory costs incurred in the previous financial year:

• some will pay a flat levy, with the cost of regulating a subsector shared equally among the entities operating in that subsector;
• others will pay a graduated levy, with the entity’s size or level of business activity determining their share of costs.

UPDATE 23 April 2018: Draft Regulations

Before it issues final industry funding invoices in January 2019, ASIC has published estimates of what the 48 regulated sectors will pay.

If a company operates in multiple sectors it will pay the levy for each sector in which it operates.

For example the flat annual levy for financial service providers will be:

• Listed corporations $4,000 minimum levy, plus an estimated $0.19 per $10,000 of market capitalisation above $5m. The maximum levy is estimated to be $396,000 for entities with a market capitalisation greater than $20bn;
• Unlisted public companies $321;
• Large proprietary companies $868;
•  Credit providers (including small amount credit providers) $2,000;
•  Credit intermediaries $1,000 plus $104 per credit representative;
• Deposit product providers $2,000;
•  Payment product providers $2,354;
• Licensees that provide personal advice to retail clients on relevant financial products $1,500;
•  Licensees that provide personal advice to retail clients on products that are not relevant financial products $719;
•  Licensees that provide general advice only $2,058;
• Licensees that provide personal advice to wholesale clients only $596;
•  Insurance product providers $20,000;
•  Insurance product distributors $790;
• Risk management product providers $5,168.

ASIC will publish indicative levies for  2018–19 in June 2018.

New ASIC fees for service commence (subject to legislation) in July 2018.