26 March 2019
Media Release - #2019032, 2019

Coalition reduces ASIC search fees and amends ASIC industry funding model

The Morrison Government has reduced and removed fees for accessing certain information from ASIC's online registries. This will improve transparency and reduce the burden on individuals and businesses that need to access this information. Amendments are also being made to ASIC's industry funding model to ensure that it is reflective of ASIC's regulatory effort.

From 1 July 2019:

  • To facilitate free access to important information about companies and financial service providers, journalists will be exempted from paying certain registry fees. ASIC will issue guidance material on the exemption and access process.
  • Search fees for accessing company roles and relationship extracts will be reduced from $40 to $19.
  • A new sub-sector will be established under ASIC's Industry Funding Model to allow ASIC to recover the regulatory costs incurred from its close and continuous monitoring of Australia's largest institutions.

From 1 April 2019, a number of other minor amendments to address definitional and fee errors will apply to ensure ASIC's fees-for-services reflect ASIC's regulatory costs. Details of these amendments are in Treasury Laws Amendment (ASIC Cost Recovery and Fees) Regulations 2019 and can be found on the Federal Register of Legislation.