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Australian Financial Services Licence
("AFSL") and Australian Credit Licence
("ACL") holders are required to submit
their business activity metrics by 27 September
2022.
Business activity metrics are submitted via the ASIC Regulatory Portal. AFSL and ACL holders can
submit their metrics using the specific industry funding security
key and ASIC identifier provided to you by ASIC.
Civil penalties apply for failure to lodge by the due date, so
it's important all AFSL and ACL holders take action to lodge
their metrics as soon as possible.
What are the Business Activity Metrics?
The Industry Funding Model commenced on 4 July 2018, requiring
AFSL and ACL holders to contribute to ASIC's regulatory costs
each financial year. The Industry Funding Model allows ASIC to meet
its goals set out under the ASIC Capability Review.
How are the Business Activity Metrics Calculated?
ASIC will use the business activity metrics provided by each
firm to calculate the levies payable for each regulated subsector.
The type of levy and the formula used to calculate the amount of
levy payable varies depending on the size and levels of business
activity.
ENTITY TYPES
SUBSECTORS
Credit Licence
Credit Provider
Credit Intermediary
Companies
Large proprietary company
Small proprietary company
Listed corporations
Unlisted public company
AFSL Holders
Licensees that provide personal advice to retail clients on
relevant products
Licensees that provide personal advice to retail clients on
non-relevant products
Licensees that provide personal advice to wholesale clients
only
Licensees that provide general advice to retail or wholesale
clients
Credit rating agency
Deposit product providers
Payment product providers
Margin lenders
Wholesale trustees
Risk management product providers
IDPS operators
MDA providers
Retail OTC derivatives issuers
Securities dealer
Insurance product providers
Insurance product distributors
Claims handling and settling services
Responsible entities
Custodians
Traditional trustee service company providers
Business activity metrics are calculated on the following
basis:
Flat levy;
Graduated levy; or
Combination of the above.
LEVY BASIS
COSTS
Flat Levy
ASIC will divide the regulatory costs shared equally between
the entities operating in the same subsector.
Graduated Levy
All entities in a subsector must pay:
A minimum levy; and
An additional graduated levy based on size and level of
business activity within the subsector.
Further reading
Key information and tutorial videos accessible here.
