ASIC’s registry business on the market
The Australian Securities and Investments Commission (ASIC) may lose its company registry business, under changes announced in the Federal Budget.
The Budget papers make clear that the Government will test the market to see whether a private operator would be better placed to both upgrade and operate the ASIC registry.
The move is consistent with pre-Budget discussion around ASIC’s role, its funding and the value of the registry business.
The sale of the registry business was also discussed in the context of ASIC moving to a user-pays funding model – something which has taken on heightened resonance following the Government’s Budget announcement impacting the financial services levy.
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