Regulatory developments timetable
This timetable outlines proposed timeframes for ASIC’s regulatory activities that are expected to have a significant impact on the markets and sectors that it regulates to assist industry with allocating resources. Activities range from the publication of guidance to conducting thematic surveillances.
Introduction to the Regulatory developments timetable
The timetable complements the Australian Government’s Regulatory Initiatives Grid - December 2024 | Treasury.gov.au (the RIG). The RIG provides cross-agency transparency across law reform and regulatory initiatives that will materially affect the financial sector. The RIG is a point in time summary published twice yearly.
The timetable has two parts:
- Content replicated from the RIG for ASIC-led regulatory initiatives that will materially affect the financial sector.
- Additional ASIC initiatives that will materially affect the corporate and non-financial sectors that ASIC also regulates.
The timetable excludes enforcement activities.
We publish this timetable after Treasury has published an updated RIG. It is a point-in-time summary and is not updated once published. It reflects our best estimates of future work and timing as at the date of publication.
1. Policy development
This category sets out policy development initiatives, including seeking stakeholder feedback on a proposed policy and formulating policy statements. Initiatives that include both policy development and developing legislation, regulations or instruments are included in the ‘Developing legislation, regulations and instruments’ category.
Given the nature of this category of work there are no ASIC-led activities to include at present.
2. Development of legislation, regulations and instruments
The initiatives in this section cover the development of primary and subordinate legislation, amendments to existing laws and regulations, the development of industry codes and the notification of tax determinations. Initiatives that involve policy development related to developing legislation, regulations and instruments are also included in this section.
The timing of activities that would support the initial implementation of legislative measures, such as the development of relevant regulations, legislative instruments and/or regulatory guidance, are subject to the passage of the relevant legislation and ongoing Government and regulator consideration. Where there is sufficient certainty that certain activities will be undertaken to support implementation, activities have been identified.
There are two ASIC-led activities in this category in the RIG, and replicated below:
3. Ongoing program implementation
The initiatives in this section cover the broad spectrum of activities being administered under existing policy and/or legislative frameworks, including the development of regulatory guidance material, program reconciliation and acquittal activity, the roll out of new portals and software and technology, and thematic surveillances that review compliance by entities with their existing obligations.
There are 15 ASIC-led activities in this category:
- 13 from the RIG,
- 2 additional non-financial service activities.
4. Review and evaluation
The initiatives in this section cover those that relate to the final stage of the policy development cycle, including legislative reviews, policy reviews, reviews of existing prudential standards, government directed inquiries, audits and reports.