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