ASIC 2021-22 Cost Recovery Implementation Statement (CRIS)

ASIC has published its Industry funding levies for the next year, with an expectation to raise over $330 million in revenue for the agency, an increase of about 5% over the previous year's $314million.  The amounts are expected to continue to increase with over 8% expected next year.

There are some industry sectors that have had smaller and some which have had larger increases.  Some examples of changes to the levies are as follows.

Of particular note are large private companies, which have had a 128% increase, and wholesale trustees who have had a 74% increase for the FUM element of their levy, both of which are large increases.

OTC's have had a 4% decrease, although any decrease to OTC's is welcome given the impact of the leverage rules that have seen maximum leverage fall by a factor of about 15 with corresponding reductions to trading activity by clients.

Other sectors have had increases and decreases, we have not been able to analyse everything.  The full report can be found here.

LNP Audit and Assurance has over 20 clients in the retail OTC derivative area, and around 100 AFSL holders in total, and we are more than happy to discuss your particular circumstances.