{"id":"F2025L01346","name":"ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2025/689","slug":"asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2025-689","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":443031,"registerId":"F2025L01346-fast-fetch-1775957943804","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2025/689","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: ASIC Template (Principal Legislative Instruments - Jan 2019)\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2025/689\n\nI, Lisa Rees, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 30 October 2025\n\n \n\n \n\n \n\nLisa Rees \n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc212715335)\n\n[1 Name of legislative instrument](#_Toc212715336)\n\n[2 Commencement and date of effect](#_Toc212715337)\n\n[3 Authority](#_Toc212715338)\n\n[4 Definitions](#_Toc212715339)\n\n[Part 2—Determination](#_Toc212715340)\n\n[5 Applicable financial year](#_Toc212715341)\n\n[6 ASIC’s regulatory costs](#_Toc212715342)\n\n[7 Attribution of ASIC’s regulatory costs to each sub-sector](#_Toc212715343)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2025/689.\n\n2 Commencement and date of effect\n\n(1) This instrument commences on the day after it is registered on the Federal Register of Legislation.\n\n Note: The register may be accessed at www.legislation.gov.au.\n\n(2) This instrument takes effect as follows:\n\n(a) if subsection 11(3) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the instrument takes effect on the day specified in paragraph 11(3)(a) of that Act;\n\n(b) if subsection 11(4) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the remaining provisions of the instrument take effect on the day specified in paragraph 11(4)(a) of that Act.\n\nNote 1: Section 11 of the ASIC Supervisory Cost Recovery Levy Act 2017 contains special provisions dealing with the disallowance and taking effect of instruments of this kind.\n\nNote 2: Subsection 10(8) of the ASIC Supervisory Cost Recovery Levy Act 2017 has the effect that the instrument can have retrospective application before the day it is registered on the Federal Register of Legislation. The register may be accessed at www.legislation.gov.au.\n\n3 Authority\n\nThis instrument is made under subsection 10(2) of the ASIC Supervisory Cost Recovery Levy Act 2017.\n\n4 Definitions\n\nIn this instrument:\n\n(a) Act means the ASIC Supervisory Cost Recovery Levy Act 2017; and\n\n(b) unless the contrary intention appears, an expression that:\n\n(i) is used, but not defined, in this instrument; and\n\n(ii) is defined in the Act;\n\nhas the same meaning in this instrument as in the Act.\n\nPart 2—Determination\n\n5 Applicable financial year\n\nThis determination applies to the 2024-25 financial year.\n\n6 ASIC’s regulatory costs\n\nASIC’s regulatory costs for the financial year are $337,564,882.\n\n7 Attribution of ASIC’s regulatory costs to each sub-sector\n\nColumn 3 of the table specifies the extent to which ASIC’s regulatory costs are attributable to the sub-sector specified in column 2 of the table.\n\n \n\n| Column 1 | Column 2 | Column 3 |\n| --- | --- | --- |\n| Item | Sub-sectors | Extent to which regulatory costs are attributable to the   sub-sector ($) |\n| 1 | Auditors of disclosing entities | 9,833,704 |\n| 2 | Australian derivative trade repository operators | 221,630 |\n| 2A | Benchmark administrators | 100,282 |\n| 2B | Claims handling and settling services providers | 2,114,012 |\n| 3 | Corporate advisors | 354,355 |\n| 4 | Credit intermediaries | 8,283,389 |\n| 5 | Credit providers | 30,354,532 |\n| 6 | Credit rating agencies | 25,431 |\n| 7 | Custodians | 1,912,150 |\n| 8 | Deposit product providers | 6,785,344 |\n| 8A | Established specialised market operators | 638,733 |\n| 9 | Exempt CS facility operators | 5,890 |\n| 10 | Exempt market operators | 0 |\n| 11 | Insurance product distributors | 1,535,599 |\n| 12 | Insurance product providers | 13,792,248 |\n| 13 | Large futures exchange operators | 951,573 |\n| 14 | Large futures exchange participants | 4,607,521 |\n| 15 | Large proprietary companies | 10,772,522 |\n| 16 | Large securities exchange operators | 3,915,572 |\n| 17 | Large securities exchange participants | 24,452,375 |\n| 18 | Licensees that provide only general advice to retail clients or wholesale clients | 5,354,091 |\n| 19 | Licensees that provide personal advice on relevant financial products to retail clients | 39,949,902 |\n| 20 | Licensees that provide personal advice to only wholesale clients | 1,178,740 |\n| 21 | Licensees that provide personal advice to retail clients on only products that are not relevant financial products | 72,865 |\n| 22 | Listed corporations | 56,999,100 |\n| 23 | Managed discretionary account providers | 627,454 |\n| 24 | Margin lenders | 9,247 |\n| 24A | New specialised market operators | 41,117 |\n| 25 | Operators of investor directed portfolio services | 848,409 |\n| 25A | Operators of notified foreign passport funds and regulated former notified funds | 12,444 |\n| 26 | Overseas market operators | 544,074 |\n| 27 | Over-the-counter traders | 8,553,013 |\n| 28 | Payment product providers | 4,714,902 |\n| 29 | Public companies (unlisted) | 2,810,788 |\n| 30 | Registered company auditors | 3,317,136 |\n| 31 | Registered liquidators | 3,541,968 |\n| 32 | Responsible entities | 28,978,249 |\n| 33 | Retail over-the-counter derivatives issuers | 12,104,537 |\n| 34 | Risk management product providers | 166,262 |\n| 35 | Securities dealers | 6,622,093 |\n| 36 | Small and medium amount credit providers | 3,585,578 |\n| 38 | Small futures exchange operators | 16,495 |\n| 39 | Small securities exchange operators | 498,076 |\n| 40 | Small securities exchange operators with self-listing function only | 4,446 |\n| 41 | Superannuation trustees | 25,299,214 |\n| 42 | Tier 1 clearing and settlement facility operators | 3,248,887 |\n| 43 | Tier 2 clearing and settlement facility operators | 74,036 |\n| 44 | Tier 3 clearing and settlement facility operators | 29,095 |\n| 45 | Tier 4 clearing and settlement facility operators | 0 |\n| 46 | Traditional trustee company service providers | 514,735 |\n| 47 | Wholesale electricity dealers | 368,148 |\n| 48 | Wholesale trustees | 6,822,919 |\n\n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The instrument does not change which sub-sectors are within scope or alter statutory definitions. It applies the Act to set the 2024–25 levy amount and allocates ASIC’s regulatory costs across the listed sub-sectors (see s5, s6, s7 and s4)."},"complexity_factors":["Single-year determination with a single fixed monetary figure rather than multi-year or formulaic calculations (s5, s6)","Long allocation table listing many distinct sub-sectors and dollar allocations—administratively detailed (s7, table)","Commencement contingent on multiple Act provisions (s2 referencing ss11(3) and 11(4))","Potential retrospective effect noted (s2 Note 2) which can affect timing and accounting","Instrument made by a delegate under statutory authority rather than by primary legislation (s3)","Definitions and scope depend on cross-references to the parent Act (s4), requiring cross-reading"],"plain_english_summary":"This instrument fixes ASIC’s supervisory cost-recovery levy for the 2024–25 financial year: it sets ASIC’s regulatory costs at $337,564,882 and allocates specific dollar amounts to listed financial-services sub-sectors. It takes effect under the commencement rules in the ASIC Supervisory Cost Recovery Levy Act 2017.\n\nThe listed sub-sectors (for example, licensees, exchanges, trustees, insurers and listed companies) are the parties that will bear the levies in the amounts allocated. The instrument relies on the Act for definitions and timing."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by the enabling legislation: it makes an annual determination of ASIC's regulatory costs and attributes them to industry sub-sectors. The scope has not expanded beyond this narrow, technical purpose."},"complexity_factors":["Very short instrument (only 7 substantive sections)","Minimal defined terms (only 2 definitions in section 4, both straightforward)","Simple structure: preliminary matters, then a single table of cost allocations","No nested exceptions or conditional logic — just a flat allocation of dollar amounts","Single cross-reference (to the ASIC Supervisory Cost Recovery Levy Act 2017 for commencement timing)","No operative provisions beyond setting a number and distributing it via table"],"plain_english_summary":"ASIC’s determination fixes its 2024–25 operating cost recovery at $337.6 million and allocates that charge across 48 industry sub‑sectors, so regulated businesses (banks, lenders, listed companies, super funds, insurers, financial advisers, brokers, auditors, etc.) pay levies proportional to the regulatory attention they attract.  \n\nIt matters because industry — not taxpayers — funds ASIC’s work, the fees affect business budgets, and the allocations signal where ASIC concentrated enforcement and supervision last year."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2025-689","history":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2025-689/history","analysis":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2025-689/analysis","conflicts":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2025-689/conflicts","importantCases":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2025-689/important-cases","documents":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2025-689/documents"}}