On the pulse
- ASIC: Market Integrity Update: Issue 175 (March 2026) – see update.
- ASIC consults on changes to net tangible assets requirement for responsible entities – see media release.
- ASIC launches financial complaints data dashboard – see media release.
- ASIC extends intra-fund transfer relief for super trustees – see media release.
- APRA to consult on enhancements to bank capital and liquidity frameworks – see media release.
- APRA and the ATO issue Payday Super Readiness letter to RSE licensees – see media release.
- AUSTRAC updates its website ahead of AML/CTF reforms – see media release.
- Treasurer convenes financial regulators – see media release.
- Consultation: Building a Stronger and Fairer Super System Act 2026 (draft regulations) – see consultation.
- Consultation: Education reform for financial advisers – see consultation.
- Bill passes and consultation open: Supporting Choice in Superannuation and Other Measures – see bill and consultation.
- Regulations referred for inquiry and report: Payday Superannuation – see inquiry.
- New bill allowing access to offenders’ super for victims and survivors of child sexual abuse – see media release.
- G+T Insight – ASIC consults on increasing NTA requirements for responsible entities and other fund operators – Peter Reeves, Georgina Wilcock, Vince Battaglia, Emily Shen, Anthony Basa, Stephanie Choong, Amiinah Dulull, Maya Ruber and Billy Elsum (25 March 2026).
ASIC
ASIC: Market Integrity Update: Issue 175 (March 2026)
On 16 March 2026, ASIC published its Market Integrity Update: Issue 175 (March 2026), which outlines ASIC's expectations and guidance for market participants amid heightened market volatility linked to events in the Middle East. ASIC notes that while Australia's financial markets continue to operate in an orderly way, it is closely monitoring market conditions and working with its Council of Financial Regulators counterparts to share information and assess risks as conditions evolve. In the current environment, particularly given the impact of the conflict on energy markets, ASIC:
- Expects market participants to maintain a heightened focus on operational resilience, trade monitoring and surveillance and be ready to act quickly to detect and deter misconduct.
- Asks market participants to be especially vigilant for suspicious activity and potential misconduct in energy futures and derivatives, noting that high volumes and sharp price movements can sometimes mask behaviour such as market manipulation.
If market participants identify concerns, they should contact ASIC promptly through their usual supervisory channels. ASIC reiterates that market participants must report suspicious activity as soon as practicable, when identified, not after it has been investigated.
ASIC consults on changes to net tangible assets requirement for responsible entities
On 18 March 2026, ASIC announced it is seeking feedback on options to increase the net tangible assets (NTA) requirement for responsible entities of registered managed investment schemes.
Consultation Paper 388: Net tangible assets requirement for responsible entities (CP 388) consults on options to increase the NTA requirement that applies to responsible entities and other fund operators under ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 2023/647. This consultation is intended to ensure the requirement continues to meet its objectives.
ASIC is also seeking feedback on:
- Increasing the NTA requirements that apply to other fund operators, such as operators of investor directed portfolio services and corporate directors of retail corporate collective investment schemes.
- The NTA requirements for other categories of licensees.
Submissions close 17 April 2026.
ASIC launches financial complaints data dashboard
On 18 March 2026, ASIC announced the launch of its Internal Dispute Resolution (IDR) data dashboard, which enables users to compare the complaints reported by individual financial firms for the first time, including how they handle complaints about specific products like home loans, credit cards, life and general insurance, or financial advice.
ASIC extends intra-fund transfer relief for super trustees
On 24 March 2026, ASIC announced that it has extended the intra-fund transfer relief provided for superannuation trustees by a period of five years, until 1 April 2031. ASIC Corporations (Intra-fund Transfers) Instrument 2026/688 continues the relief provided in ASIC Corporations (Superannuation: Accrued Default Amount and Intra-Fund Transfers) Instrument 2016/64, which is due to expire on 1 April 2026. The relief extension clarifies the application form and cooling-off period requirements during an intra-fund transfer for superannuation trustees. ASIC previously consulted on its proposal to extend the relief and received three submissions, which were all in support.
ASIC: Protecting our superannuation system is everyone’s responsibility
On 26 March 2026, ASIC published the transcript from ASIC Commissioner Alan Kirkland’s keynote address at the Law Council of Australia’s Superannuation Lawyers Conference. Key points include:
- The scale of the Shield and First Guardian failures risk undermining trust in Australia’s superannuation system more broadly.
- ASIC’s actions in relation to these matters should signal that ASIC views superannuation trustees as a significant link in the chain of conduct that led to these outcomes.
- Trustees are in a unique position to identify harmful switching practices in real time, as they control the systems through which rollovers, advice fee deductions and investment choices occur.
APRA
APRA to consult on enhancements to bank capital and liquidity frameworks
On 16 March 2026, APRA announced that it will consult on a package of reforms to bank capital and liquidity settings aimed at maintaining the resilience of Australia’s financial system and ensuring it remains well-positioned to absorb shocks and respond to periods of turbulence. The proposals include:
- Changes to the liquidity framework for the largest banks, including consideration of a new Pillar 2 liquidity framework to address risks not covered by existing Liquidity Coverage Ratio minimum requirements.
- Targeted amendments to the standardised capital framework to better align capital requirements with underlying risk, which is expected to reduce overall capital requirements for some banks. Implementation of a simplified approach to the Basel Committee’s Fundamental Review of the Trading Book (FRTB), which will better reflect risks in Australia’s banking system and will materially reduce compliance costs compared with full implementation.
APRA and the ATO issue Payday Super Readiness letter to RSE licensees
On 25 March 2026, APRA announced that it has issued a joint letter with the ATO to RSE licensees regarding the commencement of Payday Super on 1 July 2026. The letter sets out the ATO’s and APRA’s roles in the implementation of Payday Super, the relevant regulations and standards to support Payday Super, and next steps to support RSE licensee implementation readiness by 1 July 2026.
APRA stress test shows how the widening home insurance protection gap may impact Australia's financial system resilience
On 24 March 2026, APRA announced that it has released its Insurance Climate Vulnerability Assessment. APRA examined how home insurance coverage may fall under two plausible high-impact global climate-related scenarios projected out to 2050. One involves higher physical risks from weather-related events and the other with greater economic impacts from transitioning to a lower emissions economy.
AUSTRAC
AUSTRAC updates its website ahead of AML/CTF reforms
On 16 March 2026, AUSTRAC announced that it is updating its website from 30 March 2026 as part of a staged uplift to support the implementation of the AML/CTF reforms. This aligns with the commencement of new reform obligations for existing reporting entities and the opening of enrolment and registration for tranche 2 entities. The website updates aim to improve users’ overall experience by making information easier to find, navigation clearer and support easier to access as reforms progress.
Other bodies and regulators
Treasurer convenes financial regulators
On 20 March 2026, the Treasurer announced that he convened a special meeting of the Council of Financial Regulators to discuss the conflict in the Middle East, its potential implications for the economy and financial markets, and actions being taken to strengthen resilience. The Treasury appointed a Fuel Supply Taskforce Coordinator to work with the states and territories to get fuel to where it’s needed, releasing up to 762 million litres of petrol and diesel from domestic reserves and temporarily relaxed fuel standards to get more petrol to service stations.
Legislation and proposed legislation
Consultation: Building a Stronger and Fairer Super System Act 2026 (draft regulations)
On 17 March 2026, the Treasury opened consultation on the draft regulations and explanatory material for the Government’s Better Targeted Super Concessions policy. The Treasury Laws Amendment (Building a Stronger and Fairer Super System) Act 2026 and the Superannuation (Building a Stronger and Fairer Super System) Imposition Act 2026 (which both assented on 13 March 2026) reduce the tax concessions for people with total super balances over $3 million. They impose new taxes under a new Division 296 of the Income Tax Assessment Act 1997. The draft regulations support these laws by setting out detailed rules on how the new tax will work.
Submissions for feedback close 7 April 2026.
Consultation: Education reform for financial advisers
On 17 March 2026, the Treasury announced it has opened consultation on the new education standard for financial advisers. The reforms will streamline current education requirements and help expand the pipeline of new entrants to the profession.
Submissions for feedback close 17 April 2026.
Bill passes and consultation opens: Supporting Choice in Superannuation and Other Measures
On 23 March 2026, the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025 passed both houses and received asset on 26 March 2026. Among other things, the Act amends the:
- Superannuation Guarantee (Administration) Act 1992 to streamline the choice of superannuation fund process during employee onboarding.
- Corporations Act 2001 to ban advertising of certain superannuation products to new employees as part of the onboarding process.
On 27 March 2026, the Treasury opened consultation into the draft regulations to support these new laws that limit the types of superannuation products employers can show to new employees during onboarding, by setting out detailed rules for advertising of MySuper products. The rules cover clear labelling, prominence of advertising, advertising arrangements and general disclosures that must appear.
Submissions for feedback close 17 April 2026.
Regulations referred for inquiry and report: Payday Superannuation
On 23 March 2026, the Senate referred the Treasury Laws Amendment (Payday Superannuation) Regulations 2026 to the committee for inquiry and report by 16 April 2026. These reforms mean employees’ super is paid at the same time as their wages, benefitting the retirement income of millions of Australians.
See inquiry and the Treasury media release.
New bill allowing access to offenders’ super for victims and survivors of child sexual abuse
The Treasury Laws Amendment (The Survivors Law) Bill 2026 was introduced on 25 March 2026 and will enable victims and survivors of child sexual abuse to apply for a court order to access additional personal or salary sacrifice superannuation contributions made by the offender where a related court order for compensation remains unpaid after 12 months.
See Treasury media release and Attorney-General’s press conference and media release.
G+T articles
G+T Insight – ASIC consults on increasing NTA requirements for responsible entities and other fund operators – discusses ASIC’s proposal to increase the net tangible assets requirement for responsible entities and other fund operators – Peter Reeves, Georgina Wilcock, Vince Battaglia, Emily Shen, Anthony Basa, Stephanie Choong, Amiinah Dulull, Maya Ruber and Billy Elsum (25 March 2026).
Calendar dates
- 31 March 2026 – Amended AML/CTF obligations commence for existing reporting entities.
- 8 April 2026 – ASIC Market Integrity Rules (Securities Markets) Determination 2026/166 commences (relevant for listed entities, trading compliance, disclosure and market conduct governance).
- 30 May 2026 – AML/CTF reforms: Notify AUSTRAC of AML/CTF Compliance Officer (deadline for existing entities).
- 25 June 2026 – Final report of Senate inquiry into greenwashing due.
- 1 July 2026 – Mandatory climate-related financial disclosures for Group 2 entities apply in respect of financial years starting on or after this date.
- 1 July 2026 – Key AML/CTF obligations commence for Tranche two entities (such as providers of real estate services and PSPs providing designated services).
- 1 July 2026 – Key AML/CTF obligations commence for lawyers under reforms to Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
- 1 July 2026 – Payday Super reforms commence.
- 13 July 2026 – Key CDR obligations commence for non-bank lenders.
- 10 December 2026 – Automated decision-making processes under the Privacy and Other Legislation Amendment Bill 2024 to commence.
- 1 July 2027 – Mandatory climate-related financial disclosures for Group 3 entities apply in respect of financial years starting on or after this date.