ASIC

Group 1 entities must report Scope 3 from year 2 + escalating assurance through to FY30.

Every director needs a Director ID before appointment — apply via ABRS.

Directors can place company in voluntary administration when insolvent — pause creditor claims for restructuring window.

Group 2 (mid-tier entities) start climate disclosure FY27.

AFSL holders and representatives must not accept conflicted remuneration in connection with retail financial product advice.

Personal advisers must act in client's best interests + meet related obligations.

BNPL captured by the NCCP Act as a regulated credit product from 10 June 2025.

AFSL holders must do all things necessary to ensure financial services are provided efficiently, honestly and fairly.

Listed entities must immediately disclose price-sensitive information to the market.

From 1 January 2022, insurance claims handling is a financial service requiring AFSL authorisation.

Issuers and distributors of retail financial products must have a Target Market Determination (TMD) and distribute consistently with it.

Directors owe duties of care and diligence (s 180), good faith (s 181), no improper use of position (s 182) or information (s 183).

Banking entities from 15 March 2024; insurers and super trustees from 15 March 2025.

Credit licensees must not enter into credit contracts unsuitable for the consumer.

Super fund trustees owe statutory covenants of care, skill, diligence, best financial interests, and prudent investment.

Credit providers must respond to hardship notice + assess variation request.

Issuers + distributors of retail financial products bound by DDO from 5 October 2021.

FAR accountable persons must have 40% of variable remuneration deferred 4 years.

Issuers of OTC derivatives to retail clients face product intervention orders + tightened conditions.

Offers of securities to retail investors require a prospectus or OIS lodged with ASIC.

Self-managed super funds must be audited by an ASIC-registered auditor each year.

AFSL holders providing financial services to retail clients must hold adequate professional indemnity insurance.

AFSL + ACL holders must be members of AFCA — sole AU EDR scheme.

Relevant providers must be on the Financial Advisers Register and meet education + CPD + Code of Ethics.

ASX Listing Rule 12.12 requires written policy on directors + senior managers trading entity securities.

Brokers must act in the consumer's best interests when providing credit assistance.

Directors must prevent the company incurring debts while insolvent — or face personal liability.

Financial Services Guide before service; Statement of Advice for personal advice.

Schemes with 20+ retail members must be registered with ASIC as MIS.

AFSL/ACL holders must report reportable situations within 30 calendar days of becoming aware.

SACC + consumer lease fee caps + responsible lending tightened post-Royal Commission.

AASB likely to mandate S1 (general sustainability) following S2 climate phasing.

Representatives advising on financial products to retail clients must meet RG 146 training standards.

ASX-listed entities must disclose against 8 Principles + 38 Recommendations annually.

Group 3 (smaller entities) start climate disclosure FY28.

AFSL holders must authorise representatives in writing and notify ASIC of new ARs within 15 business days.

From November 2023, unfair contract terms carry pecuniary penalties — up to $50M per term.

ABA member banks bound by the Banking Code — fair conduct + dispute resolution requirements.

Companies must retain financial + business records for 7 years.

S2 mandates climate scenario analysis at least 1.5°C-aligned + an additional scenario.

Members of CA ANZ + CPA Australia + IPA bound by APES 110 — fundamental principles + threats + safeguards.

Issuers and distributors must observe any product intervention order made by ASIC.

Auditors must conduct audits per ASA — Aus equivalent of ISA, with Aus additions.

Public companies and large proprietary companies must have a whistleblower policy and protect disclosers.

ICA Code binds member insurers on conduct + claims + complaints.

Financial firms must acknowledge complaints within 24 hours and resolve within prescribed timeframes.

SVF providers must operate within APRA + Treasury rules on purchased payment facility regulation.

Treasury scoping CASP regime for digital asset platforms.

Treasury consultation 2024 on bespoke crypto licensing — separate from AFSL.

Test the three large-prop thresholds at the end of each financial year — failing any two triggers Chapter 2M reporting.

Directors must contemporaneously document discharge of duties for defence in s 180-183 cases.

Annual percentage + comparison rate must accompany credit product ads under NCCP Regulations.

ICA member insurers bound by service standards + claims handling timeframes.

FSC member life insurers bound by Code 2.0 (commenced 1 July 2023).

Group 1/2/3 entities must publish ASRS-aligned climate disclosures with their annual financial reports.

Every Australian company has an annual review date — confirm details and pay the fee.

Large proprietary, public and disclosing entities must prepare and lodge audited financial reports.

BI insurance policies must clearly define pandemic exclusions per Federal Court guidance.

Entities with consolidated revenue ≥$100M must publish a Modern Slavery Statement annually.

Companies must pay annual fees + lodge prescribed forms within statutory periods (e.g. Form 484 for changes).

Treasury reform of payments licensing to capture digital wallets + Buy Now Pay Later + stored value.

Credit card limit increase offers cannot be sent without prior written consent.

Retail financial product issuers must provide a current PDS before issuing.

RCAs must maintain ASIC registration + 120 hours CPD over 3 years.

Credit providers must consider hardship notices within 21 days under s 72 NCC.

Scope 3 emissions become mandatory year 2 of ASRS reporting (varies by Group).

Small companies (<$1M liabilities) can use SDR to restructure without full external admin.

Treasury reforms scoping payment stablecoin licensing under PSP regime.

Proposed beneficial ownership register for unlisted companies and trusts — consultation through 2024-2025; commencement TBD.

Voluntary but industry-standard code covering electronic transaction terms, mistaken internet payments, and unauthorised transactions.

Temporary residents may purchase 1 established dwelling for own residence + new dwellings without limit.

If a remuneration report attracts 25%+ no votes twice running, a spill resolution must be considered.

ASIC media release 26-001: Mr ASIC Suspends Australian Credit Licence Of Transitional Funding Pty Ltd. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-002: Mr Directors Of Collapsed Agri Businesses Linked To Corruption Scandal Disqualified For Maximum 5 Year Period. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-003: Mr Richard Ernest Auricht S Liquidator Registration Cancellation Overturned On Appeal Substituted With Five Year Suspension. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-004: Mr ASIC Secures Nearly 40 Million In Refunds To Investors And Drives Change After Cfd Sector Falls Short. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-005: Mr Former Financial Advisor Anthony Torre Sentenced To Six Years Imprisonment For Fraud And Stealing. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-006: Mr Former United Global Capital Financial Adviser Milutin Petrovic S Ban Varied To Three Years. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-007: Mr Fund Manager Sentenced To 6 Years Jail In 3 Million Platinum Asset Management Insider Trading Case. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-008: Mr Bps Financial To Pay 14 Million In Penalties Over Crypto Qoin Wallet. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-009: Mr Brendan Gunn Pleads Guilty To Dealing With Money Reasonably Suspected Of Being Proceeds Of Crime. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-010: Mr ASIC Acts Against 28 SMSF Auditors Flags Increased Scrutiny On In House Audit Breaches. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-011: Mr Federal Court Orders Australian Unity Funds Management To Pay 7 Million Penalty For Failing To Confirm Product Suitability For Investors. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-012: Mr Director Of Wa Tiling Business Charged With Making False Statement. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-013: Mr New ASIC Chair. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-014: Mr ASIC Urges Super Trustees To Step Up And Address Serious Gaps In Anti Scam And Fraud Protections. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-015: Mr Petra Capital Fined For Regulatory Data Reporting Failures. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-016: Mr Director Of Warwick Gold And Impact Gold Disqualified From Managing Corporations For Four Years. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-017: Mr ASIC Permanently Bans Patrick Nong From The Financial Services Industry. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-018: Mr ASIC Permanently Bans Former Nsw Financial Adviser David Valvo. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-019: Mr ASIC Takes Further Steps To Support Australians Impacted By First Guardian And Shield Collapse. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-020: Mr ASIC Cancels AFS And Ac Licences Of Centre Capital Securities For Failure To Pay Industry Funding Levies. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-021: Mr ASIC Action Sees Fiig Securities Ordered To Pay 2 5 Million Over Cyber Security Failures. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-022: Mr Former Director Of Ndis Provider Charged With Dishonesty Offences. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-023: Mr ASIC Bans Former Mwl Financial Services Adviser Neil Mcpherson For 4 Years. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-024: Mr Sec Chair And Nobel Prize Winning Economist To Headline ASIC Innovation Symposium. Sourced from ASIC newsroom — see source URL for the full release.

ASIC media release 26-025: Mr ASIC Imposes Licence Conditions On Corpay Subsidiary Following Compliance Failures. Sourced from ASIC newsroom — see source URL for the full release.