ASIC levy reflects ramped up enforcement: FBAA subscribe A A ASIC’s raised industry funding levies reflect higher enforcement against brokers and could add to other increasing costs, the head of the Finance Brokers Association of Australia has said. ASIC released its draft Cost Recovery Implementation Statement for the 2020-21 year on Friday (23 July), with expectations of what each finance sector will be charged to fund its regulation. The levies, which are based on ASIC’s regulatory costs and business metrics, will be finalised in December and invoiced in January next year. The regulator is forecast to recover $44.5 million in total levies from the deposit-taking and credit sector – contributing to a grand total of $337.5 million to be recovered across financial industries.