CP 388 Net tangible assets requirement for responsible entities

Released 18 March 2026. Comments closed 17 April 2026.

This consultation paper seeks feedback on options for increasing the net tangible assets (NTA) requirement for responsible entities in ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 2023/647.

It also seeks feedback on:

• increasing the NTA requirements that apply to other fund operators i.e. operators of investor directed portfolio services (IDPSs) and corporate directors of retail corporate collective investment schemes (CCIVs), and
• the NTA requirements for other categories of licensees as this will inform future ASIC work.

Downloads

• Consultation Paper 388 Net tangible assets requirement for responsible entities (PDF 494 KB)

Feedback on CP 388

Released 30 July 2026.

ASIC received 3 confidential and 15 non-confidential submissions.

We received diverse feedback on which option for increasing the requirement was preferable. Some respondents highlighted concerns that substantive changes to the NTA requirement would adversely impact competition and innovation.

Having regard to the feedback, we decided to increase the minimum financial thresholds in the requirement to reflect inflation since 2013 (when they were last amended) and introduce annual indexation to help ensure the thresholds remain current over time.

Summary of feedback to CP 388 and ASIC’s response (PDF 376 KB)

Related links

• Mar 2026: ASIC consults on changes to net tangible assets requirement for responsible entities
• Jul 2026: ASIC announces changes to net tangible assets requirement for responsible entities