Govt slashes ASIC search fees
The Government has reduced the $40 fee to access online business registries maintained by the Australian Securities and Investments Commission (ASIC) to $19 and extended the fee exemption to all journalists for all registry searches.
According to Minister for Revenue and Financial Services, Kelly O’Dwyer, the search fees were cut to reduce the burden on individuals and businesses that needed to access company roles and relationship extracts from the online registries.
O’Dwyer also said the exemption fees would facilitate free access to important information and journalists would qualify where they were seeking access to the information in the course of their professional work.
The changes, advocated by Centre Alliance Senator, Rex Patrick, would not affect ASIC’s resourcing from the Budget.
Recommended for you
Government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
ASIC now has a 1:1 ratio when it comes to court success in the enforcement of crypto activities and more action is expected as Treasury seeks to introduce a regulatory framework.
A leading governance body has hit out at “specialist interest groups proposing ad hoc law reform” when it comes to reforms of financial services legislation and believes an independent body is needed.
The release of ALRC’s final report into financial services legislation has highlighted financial advice as a “significant” focus as it seeks to reduce costs and help advisers understand their obligations, alongside the Quality of Advice Review.
