Australian Securities and Investments Commission (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2021/0938 (Cth)

ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2021/0938

I, Richard Goldman, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    15 November 2021

Richard Goldman

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement and date of effect

3    Authority

4    Definitions

Part 2—Determination

5    Applicable financial year

6    ASIC’s regulatory costs

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

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2021/0938.

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 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 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 2020–21 financial year.

6        ASIC’s regulatory costs

ASIC’s regulatory costs for the financial year are $314,092,158.

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	7,822,930
2	Australian derivative trade repository operators	127,212
2A	Benchmark administrators	424,035
3	Corporate advisors	1,664,640
4	Credit intermediaries	11,361,967
5	Credit providers	33,057,339
6	Credit rating agencies	55,767
7	Custodians	311,256
8	Deposit product providers	7,521,038
8A	Established specialised market operators	685,469
9	Exempt CS facility operators	3,587
10	Exempt market operators	68,440
11	Insurance product distributors	3,010,547
12	Insurance product providers	24,594,548
13	Large futures exchange operators	1,426,999
14	Large futures exchange participants	3,624,160
15	Large proprietary companies	7,925,280
16	Large securities exchange operators	4,600,607
17	Large securities exchange participants	19,941,999
18	Licensees that provide only general advice to retail clients or wholesale clients	602,613
19	Licensees that provide personal advice on relevant financial products to retail clients	25,759,149
20	Licensees that provide personal advice to only wholesale clients	84,651
21	Licensees that provide personal advice to retail clients on only products that are not relevant financial products	189,817
22	Listed corporations	58,247,190
23	Managed discretionary account providers	2,417,914
24	Margin lenders	70,357
24A	New specialised market operators	3,736
25	Operators of investor directed portfolio services	953,013
25A	Operators of notified foreign passport funds and regulated former notified funds	6,736
26	Overseas market operators	440,880
27	Over-the-counter traders	8,725,354
28	Payment product providers	2,405,649
29	Public companies (unlisted)	2,973,021
30	Registered company auditors	1,806,632
31	Registered liquidators	5,124,833
32	Responsible entities	25,203,601
33	Retail over-the-counter derivatives issuers	10,558,671
34	Risk management product providers	118,762
35	Securities dealers	1,944,910
36	Small and medium amount credit providers	4,897,428
38	Small futures exchange operators	639,776
39	Small securities exchange operators	570,028
40	Small securities exchange operators with self-listing function only	934
41	Superannuation trustees	26,947,964
42	Tier 1 clearing and settlement facility operators	1,599,620
43	Tier 2 clearing and settlement facility operators	171,301
44	Tier 3 clearing and settlement facility operators	26,015
45	Tier 4 clearing and settlement facility operators	934
46	Traditional trustee company service providers	277,883
47	Wholesale electricity dealers	86,709
48	Wholesale trustees	3,008,257