On the pulse
ASIC proposes to remake relief instrument for non-cash payment facility exemptions – see consultation.
ASIC issues new financial advice-related legislative instrument – see media release.
ASIC remakes basic deposit and general insurance product distribution legislative instrument – see media release.
ASIC supports innovation through exemptions for distributors of Australian stablecoin – see media release.
ASIC reissues regulatory guide on auditor reporting obligations – see media release.
APRA responds to consultation on minor proposals for instruments relating to section 66 of the Banking Act – see media release.
ASIC
ASIC proposes to remake relief instrument for non-cash payment facility exemptions
ASIC is seeking feedback on its proposal to remake ASIC Corporations (Non-cash Payment Facilities) Instrument 2016/211 (ASIC Instrument 2016/211) as it is due to sunset on 1 April 2026.
ASIC assessed that ASIC Instrument 2016/211 is operating effectively and efficiently and proposes to remake it for a period of five years. The proposed new instrument is intended to maintain existing relief so that its ongoing effect is preserved without any disruption to the entities that rely on it.
Submissions close on 8 October 2025.
See ASIC media release and consultation.
ASIC issues new financial advice-related legislative instrument
ASIC made a new legislative instrument that continues the relief provided under three financial advice-related instruments that are due to sunset on 1 October 2025.
The ASIC Corporations (Financial Services Guide, General Advice Warning and Advertising Related Relief) Instrument 2025/234 continues the relief currently provided by:
ASIC Corporations (Advertising by Product Issuers) Instrument 2015/539.
ASIC Corporations (General Advice Warning) Instrument 2015/540.
ASIC Corporations (Financial Services Guides) Instrument 2015/541.
ASIC previously consulted on its intention to remake the three financial advice-related legislative instruments and received five formal submissions.
See ASIC media release and ASIC Corporations and Credit (Amendment and Repeal) Instrument 2025/590.
ASIC remakes basic deposit and general insurance product distribution legislative instrument
The ASIC Corporations (Basic Deposit and General Insurance Product Distribution) Instrument 2025/520 will extend the relief previously provided by ASIC Corporations (Basic Deposit and General Insurance Product Distribution) Instrument 2015/682 until 27 August 2030.
This instrument continues to exempt Australian financial services licensees from appointing a basic deposit or general insurance product distributor as their authorised representative. It promotes the wide availability of basic deposit and general insurance products to consumers by reducing the compliance costs to providers.
See ASIC media release and also ASIC Corporations (Repeal) Instrument 2025/519.
ASIC remakes deposit product disclosure legislative instrument
ASIC remakes ASIC Corporations (Deposit Product Disclosure) Instrument 2015/683, which was due to sunset on 1 October 2025, with ASIC Corporations (Deposit Product Disclosure) Instrument 2025/509 and ASIC Corporations (Repeal) Instrument 2025/518.
See ASIC regulatory tracker.
ASIC supports innovation through exemptions for distributors of Australian stablecoin
ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631 grants class relief for intermediaries engaging in the secondary distribution of a stablecoin issued by an Australian financial services licensed issuer.
As more issuers of eligible stablecoins obtain an Australian financial services licence, ASIC will consider extending the above relief to intermediaries distributing those stablecoins.
See ASIC media release and also explanatory statement for ASIC Instrument 2025/631.
ASIC reissues regulatory guide on auditor reporting obligations
ASIC has reissued a regulatory guide to consolidate and simplify guidance on auditor breach notification and contravention reporting obligations to ASIC as well as reflect changes to the law.
Regulatory Guide 34 Auditor obligations: Reporting to ASIC provides guidance to auditors on their breach notification and contravention reporting obligations to ASIC.
The changes include guidance on auditor obligations to report:
Suspected contraventions in connection with sustainability reporting and when conducting audits of registrable superannuation entities, corporate collective investment vehicles (CCIVs) and compliance plans of retail CCIVs.
Attempts to unduly influence, interfere and mislead the auditor.
Conflicts of interest.
The auditor’s own suspected contraventions.
See ASIC media release.
APRA
APRA releases quarterly authorised deposit-taking institution statistics for June 2025
See APRA statistics.
APRA publishes June 2025 edition of Quarterly Superannuation Industry Publication, Fund-level and Product Statistics
See APRA statistics.
APRA responds to consultation on minor proposals for instruments relating to section 66 of the Banking Act
APRA has released a response to the consultation on a set of minor proposals for instruments relating to section 66 of the Banking Act 1959 (Cth). APRA’s proposals pertained to section 66 exemption and determination instruments that are due to sunset later this year or that require updating to reflect current practice.
The consultation response letter, finalised instrument and non-confidential submissions are available at: Banking Act exemptions and section 66 guidelines.
See APRA media release.
G+T articles
G+T Insight – AML/CTF reform – outlines the current state of the reform and what is next – Peter Reeves, Georgina Wilcock, Vince Battaglia, Emily Shen, Anthony Basa, Aminnah Dulull and Maya Ruber (8 September 2025).
G+T Insight – Exemptions for FFSPs – provides an overview of where things stand and what is next – Peter Reeves, Georgina Wilcock, Vince Battaglia, Emily Shen, Anthony Basa, Aminnah Dulull and Maya Ruber (8 September 2025).
G+T Insight – Updated licensing framework for ADIs – explains recent changes to the licensing framework, what they mean for authorised deposit-taking institutions and what is next – Peter Reeves, Georgina Wilcock, Vince Battaglia, Emily Shen, Anthony Basa, Aminnah Dulull and Maya Ruber (8 September 2025).
G+T Insight – Unlocking scale: how renewables developers are reengineering capital structures – provides an overview of Australia’s energy transition – Jamie Guthrie (10 September 2025).
G+T Insight – Financial Services: Regulatory Recap week commencing 8 September 2025 – Luke Barrett, Peter Reeves, Rachel Walker and Silvana Wood (12 September 2025).
G+T Insight – Fintech in Australia | 2025 Guide – provides an overview of the 2025 guide – Peter Reeves, Anthony Basa and Maya Ruber (12 September 2025).
G+T Insight – Motor Vehicle Service and Repair Information Scheme – what you need to know – provides an overview of ACCC guidance – Jeremy Jose, Christiana McCudden, Frances Qi, Kelvin Ng and Josephine Le (15 September 2025).
G+T Insight – G+T’s Super Vision – series of concise video briefings on superannuation regulatory developments – Luke Barrett, Jeremy Jose and Ilona Millar (17 September 2025).
G+T Insight – Social sector spotlight – September 2025 – Darren Fittler, Elizabeth Lathlean, Darrel Bagang and Neha Sharma (18 September 2025).
Calendar dates
31 March 2026 – Amended AML/CTF obligations commence for existing reporting entities.
31 March 2026 – Tranche 2 entities may enrol as reporting entities with AUSTRAC.
1 July 2026 – Mandatory climate-related financial disclosures for Group 2 entities apply in respect of financial years starting on or after this date.
13 July 2026 – Key CDR obligations commence for non-bank lenders.
1 July 2027 – Mandatory climate-related financial disclosures for Group 3 entities apply in respect of financial years starting on or after this date.