ASIC today issued its 2024-25 Cost Recovery Implementation Statement (CRIS), which outlines how ASIC will recover regulatory costs from industry under the industry funding model.
For the 2024-25 financial year, ASIC's total estimated recoverable costs are $349.3 million - a 6% increase from the $328.1 million recovered in 2023-24. This increase reflects additional funding to support key Government priorities, including:
- Implementation of the scams prevention framework
- Mandatory climate-related financial disclosures
- Beneficial ownership transparency reforms
- Enhancements to ASIC's data capability and cyber security
The CRIS provides estimated regulatory costs and levies for each of ASIC's 52 regulated subsectors to help entities plan and budget for levies and fees to be charged.
A summary is included which explains the material variance between ASIC's estimated recoverable costs for 2024-25 and actual recoverable costs for 2023-24 across 16 subsectors.
The variance is considered material if the estimated recoverable costs for the subsector this financial year are different from the actual recoverable costs last financial year by more than 10%, and the variance is also greater than $1 million.
The statement's figures are a guide only. Final levies will be published in December 2025 and invoiced between January and March 2026.
Background
Entities regulated by ASIC receive an invoice each year for ASIC's regulatory services under laws introduced by the Australian Government following recommendations from the Financial System Inquiry.
The levies entities pay reflect ASIC's costs of regulating the subsectors they operate in.
Each year ASIC details how its costs will be recovered from each regulated subsector through industry funding levies and via fees for service.
ASIC's industry funding model ensures that costs of regulatory activities are borne by the entities ASIC regulates, rather than Australian taxpayers.
More information
- See the 2024-25 Cost Recovery Implementation Statement
- Find out how the government's industry funding model for ASIC works
- To address recommendations outlined in the 2023 Review of ASIC's Industry Funding Model, ASIC and Treasury have a five-yearly consultation process with industry to examine policy settings within the industry funding model.
