Submission | Proposed Industry Funding Model for ASIC

The Australian Chamber of Commerce and Industry appreciates the opportunity to comment on the discussion paper issued by the Treasury on the proposed funding model for ASIC. We believe ASIC should be appropriately resourced to ensure proper regulatory oversight. Given the importance of budget repair, partially recovering the Government’s costs to fund ASIC is a reasonable approach. However, user charges must be affordable, reasonable, not distort industry practices and be administered in a simple and efficient manner.