Ministerial Powers (ASIC) Amendment Delegations 2026
I, Daniel Mulino, Assistant Treasurer and Minister for Financial Services, make the following delegations.
Dated 23 January 2026
Dr Daniel Mulino
Assistant Treasurer
Minister for Financial Services
Contents
1 Name
2 Commencement
3 Authority
4 Schedules
Schedule 1—Amendments
Ministerial Powers (ASIC) Delegations 2021
1 Name
This instrument is the Ministerial Powers (ASIC) Amendment Delegations 2026.
2 Commencement
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information |
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | The day after this instrument is registered. | |
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under the following:
(a) the Corporations Act 2001; and
(a) the Mutual Assistance in Business Regulation Act 1992.
4 Schedules
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1—Amendments
Ministerial Powers (ASIC) Delegations 2021
1 Section 8
Repeal the section.
2 Paragraph 11(c)
Omit “Misconduct and Breach Reporting”, substitute “Regulatory Insights and Assessment”.
3 Paragraph 11(e)
Omit “Supervision”, substitute “Conduct”.
4 Paragraph 11(e)
Omit “4644”, substitute “18,534”.
5 Paragraph 11(g)
Repeal the paragraph, substitute:
(g) the Executive Director, Registry and Intelligence (position number 18,601);
(h) the Senior Executive Leader, Market Integrity (position number 17,794);
(i) the Senior Executive Leader, Markets Enforcement (position number 15,390);
(j) the General Counsel in Legal Services;
(k) a Deputy General Counsel in Legal Services.
Overview
The Ministerial Powers (ASIC) Amendment Delegations 2026, made by Daniel Mulino, the Assistant Treasurer and Minister for Financial Services, amends existing delegations to the Australian Securities and Investments Commission (ASIC). This notifiable instrument was enacted to refine and update the delegations of certain powers to ASIC, ensuring they align with current regulatory needs and operational structures. The instrument is grounded in the Corporations Act 2001 and the Mutual Assistance in Business Regulation Act 1992, and its provisions commenced the day after it was registered. The key objective of this amendment is to enhance the efficacy of ASIC's regulatory oversight and enforcement capabilities by adjusting specific delegations and responsibilities within the commission.
Scope and Application
The Ministerial Powers (ASIC) Amendment Delegations 2026I, made by Daniel Mulino, the Assistant Treasurer and Minister for Financial Services, modifies existing delegations made under the Corporations Act 2001 and the Mutual Assistance in Business Regulation Act 1992. This instrument adjusts the scope and authority of certain positions within the Australian Securities and Investments Commission (ASIC), specifically repealing and replacing sections and subsections that pertain to misconduct and breach reporting, supervision, and certain executive positions. The changes involve the deletion of old responsibilities and the addition of new roles, such as Regulatory Insights and Assessment, as well as the re-designation of several senior executive positions. This amendment is intended to streamline the delegation of powers and align them with current regulatory needs, ensuring that ASIC can effectively manage financial market oversight and enforcement activities. The instrument's provisions come into effect the day after it is registered, as outlined in the commencement clause, and it includes specific amendments to existing delegations, thereby extending the authority and scope of certain roles within ASIC.
Key Provisions
The Ministerial Powers (ASIC) Amendment Delegations 2026 (F2026N00064) amends existing delegations made under the Corporations Act 2001 and the Mutual Assistance in Business Regulation Act 1992. The entire instrument takes effect the day after its registration (Section 2). The amendments primarily revise the delegations of specific powers and responsibilities within the Australian Securities and Investments Commission (ASIC).
Section 1 of the Schedule amends Section 8 by repealing it entirely, which likely removes a previous delegation of power. Section 2 modifies paragraph 11(c) by replacing “Misconduct and Breach Reporting” with “Regulatory Insights and Assessment,” indicating a shift in focus from reporting misconduct to assessing regulatory insights. Furthermore, Section 3 changes paragraph 11(e) by replacing “Supervision” with “Conduct,” which may alter the scope of oversight to include conduct regulation rather than just supervision. Section 4 updates the numerical reference in paragraph 11(e) from “4644” to “18,534,” likely referring to a specific position or category within ASIC.
The Act imposes specific obligations on ASIC by defining the new areas of focus and responsibility. For instance, the substitution of “Regulatory Insights and Assessment” for “Misconduct and Breach Reporting” in paragraph 11(c) suggests that ASIC must now prioritise the assessment of regulatory insights over merely reporting breaches. Similarly, the replacement of “Supervision” with “Conduct” in paragraph 11(e) likely requires ASIC to extend its regulatory activities to include a broader scope of conduct regulation.
Failure to comply with the provisions of this legislation could result in various consequences, though the specific penalties are not detailed within the text. Generally, breaches of legislative requirements under the Corporations Act 2001 can lead to substantial fines and, in severe cases, imprisonment. For instance, ASIC has the authority to impose penalties on individuals and corporations that fail to comply with regulatory requirements, which can include civil penalties for corporations and criminal penalties for individuals. However, the exact penalties would depend on the nature and severity of the breach, as well as other relevant legal considerations.