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MIL-OSI Australia: Temporary and targeted relief on ASIC levies for financial advisers

MIL-OSI Australia: Temporary and targeted relief on ASIC levies for financial advisers
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Aus government smother new business, hindering success

Aus government smother new business, hindering success
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Temporary and targeted relief on ASIC levies for financial advisers

The Morrison Government is today announcing temporary and targeted relief for financial advisers by reducing the cost recovery levies charged by the.

Investments commissionFinancial services royal commissionMorrison governmentAustralian securitiesRecovery implementation statementSingle disciplinary bodyCompensation schemeFunding modelAustralian treasuryAustralian securities and investments commissionMorrison governmentFinancial servicesRoyal commissionCovid 19

Treasurer announces ASIC levy relief

Temporary relief for financial advisers is imminent, with Treasurer Josh Frydenberg announcing on Monday morning that the cost of levies charged by ASIC will be reduced.

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ASIC defends higher industry levies

ASIC defends higher industry levies subscribe Reporter Reporter A A The financial services regulator has responded to concerns that it has substantially upped its levies, outlining that it needs the extra funds to cover its post-royal commission enforcement activities. Last week, the Australian Securities & Investments Commission (ASIC) released a summary of its actual regulatory costs and actual levies for the year 2019-20. ASIC confirmed its regulatory costs to be recovered through industry funding levies for the 2019-20 year were $320.331 million, slightly below its original estimation of $324.5 million (but markedly up from $273 million in 2018-19). Of this, the 4,653 credit intermediaries (such as brokerages and aggregation groups) will be charged a total of $6.892 million.

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