On 11 April, the Government released draft legislation on the second phase of the ASIC industry funding model – the introduction of ASIC fees-for-service.

The Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer, stated that the new fees-for-service regime is designed to ensure that the costs of regulation are borne by users rather than the Australian public and is intended to reflect ASIC’s actual costs for providing services.

Consultation in relation to the draft legislation closes on 24 April 2018, and on 1 May 2018 for regulation-related documents.