On the pulse
Government announces further reforms to strengthen consumer protections – see media release
ASIC: get ready for new director ID requirements –see media release
- ASIC: Corporate Plan 2026-27 – see media release
- ASIC releases new professional year guidance for aspiring financial advisers – see media release
- ASIC helps small business directors respond early to financial difficulty – see article
- ASIC and APRA warn frontier AI awareness must turn to action – see media release
- APRA publishes 2026-27 Corporate Plan – see media release
Legislation and proposed legislation
Government announces further reforms to strengthen consumer protections
On 19 August 2026, the government announced further reforms to strengthen consumer protections and build the resilience of the Australian superannuation and financial system.
The reforms will:
- make the financial system safer by strengthening protections across the superannuation, advice and investment ecosystem
- improve access to safe, secure financial advice and guidance so that Australians can navigate an increasingly complex retirement system with greater confidence
- place the Compensation Scheme of Last Resort on a firmer and fairer footing so that it can continue to provide meaningful protection when all other safeguards have failed.
See also APRA’s media release.
ASIC
Get ready for new director ID requirements from 1 July 2027
On 24 August 2026, ASIC outlined steps that companies and directors can take now to prepare for the new requirements, including checking that company and director information is current and accurate. From 1 July 2027, new laws passed under the Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Act 2026 will require companies to provide director identification numbers to ASIC.
Companies will need to provide director IDs to ASIC through company reporting processes, including annual reviews and when notifying changes to director details. Further information and guidance will be provided before 1 July 2027.
ASIC Corporate Finance Update – August 2026
On 27 August 2026, ASIC published its Corporate Finance Update – Issue 30 (August 2026), which covers the following:
- ASIC Chair outlines strategic priorities with focus on being easier to deal with and harder to avoid
- ASIC paves the way for greater transparency of listed entity ownership and control
- ASIC proposes improved pre-IPO advertising flexibility and global alignment
- ASIC’s measured approach to the SpaceX cross-border IPO
- ASIC calls on industry to strengthen preparedness for geopolitically motivated disruption
- ASIC moves to simplify sell-side research guidance to support capital raising activity
- Key themes and areas of focus from ASIC’s Financial Markets and Innovation roundtable
ASIC: Corporate Plan 2026-27
On 26 August 2026, ASIC announced that it has released its Corporate Plan 2026-27, which outlines ASIC’s priorities for the year ahead, with a focus on protecting consumers and small businesses, supporting responsible innovation, reducing unnecessary regulatory burden and strengthening confidence in Australia’s financial system. Among other things, ASIC states that the plan continues its commitment to reducing unnecessary regulatory burden, including through simpler guidance and instruments, better digital services, more efficient licensing processes and closer coordination with other regulators on data collection. ASIC states that it will also strengthen its supervision of managed investment schemes, continue work to improve market integrity across public and private markets, support responsible digital finance and innovation, and build its own data, intelligence, AI and cyber capabilities.
ASIC and APRA warn frontier AI awareness must turn to action
On 27 August 2026, ASIC announced that ASIC and APRA are urging financial market entities to move from gaining awareness of risks linked to frontier AI to taking decisive action. Both APRA and ASIC have warned publicly in recent months that frontier AI is increasing the speed, scale and sophistication of cyber threats to the financial system while also accelerating technology and operational risks.
See also APRA’s media release and insights from APRA-ASIC roundtables.
ASIC helps small business directors respond early to financial difficulty
On 25 August 2026, ASIC published an article exploring the challenges small business directors face when managing financial difficulty. ASIC is focused on helping directors recognise the warning signs earlier, understand their obligations and seek advice before options narrow – reducing personal risks for directors and harm to employees and other creditors, writes Kate O’Rourke, ASIC Commissioner.
ASIC releases new professional year guidance for aspiring financial advisers
On 24 August 2026, ASIC announced that it has published new guidance for professional year candidates, their supervisors and Australian financial services licensees. Information Sheet 297 FAQs: Professional Year provides answers to common questions, including information about documentation, record keeping, plans, tasks and logbooks. ASIC has also provided candidates with a snapshot of some key milestones that must be met during the professional year.
APRA
APRA publishes 2026-27 Corporate Plan
On 20 August 2026, APRA announced that it has published its latest Corporate Plan, with a focus on ensuring that the risk management practices of banks, insurers and superannuation trustees keep pace with a rapidly moving threat environment.
APRA’s 2026-27 Corporate Plan sets out APRA’s strategic priorities for the coming four years, as well as its policy and supervision agenda for the next 12 to 18 months.
The Plan has been built around three strategic priorities:
- Maintaining financial system safety and stability – so that the system can absorb shocks and continue to provide critical services to households and businesses.
- Getting the balance right – so APRA delivers its primary financial safety and stability objectives without undue cost for industry.
- Improving APRA’s organisational effectiveness – so APRA’s people can continue to act quickly and decisively in an increasingly uncertain world.
APRA releases 2026 superannuation performance test and product insights
On 28 August 2026, APRA announced that it has released the results of the 2026 superannuation performance test. The annual test, which has been administered by APRA since 2021, assesses the long-term performance of superannuation products to improve member outcomes and enhance transparency.
This year, 547 superannuation products were assessed, representing 61% of APRA-regulated superannuation member benefits. Of these, 12 products did not pass the test.
AUSTRAC
AUSTRAC issues notices to non-enrolled businesses
On 28 August 2026, AUSTRAC announced that it has begun issuing section 167 notices to businesses that appear to be providing designated services but have not enrolled under Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
The notices require businesses, including real estate agents, accountants, lawyers and jewellers, to provide information to help AUSTRAC determine whether they are providing regulated services and meeting their obligations under the AML/CTF Act.
G+T articles
- Regulating Space for the Next 7 Generations: A Research Agenda – Lesley Sutton (18 August 2026)
- Automated decision-making transparency under the Privacy Act: are you prepared for 10 December 2026? – Iris Vayzer, Jen Bradley, Andrew Hii (19 August 2026)
- Financing the next phase of the energy transition podcast – Ilona Millar, Geoff Petersen, Stuart Cormack, Nirangjan Nagarajah, Clare Pope, James Guthrie, Christopher Flynn (20 August 2026)
- Social sector spotlight – August 2026 – Caroline Conan-Davies, Neha Sharma, Elizabeth Wighton, Darren Fittler (20 August 2026)
- Bequests and the bottom line: practical tips for charities – Kaushalya Mataraaratchi, Caroline Conan-Davies, Neha Sharma, Elizabeth Wighton, Darren Fittler (20 August 2026)
- New merger regime: first half-year insights – Nicholas McNaughton, Courtney Olden, Jeremy Jose, Elizabeth Avery (20 August 2026)
- The changing face of fraud: what financial services firms need to do now – Simon Burns, Melissa Fai, Daniel MacPherson, Antonia Garling, Rachel Walker and Georgina Wilcock (21 August 2026)
- Why Australia's biggest energy risk isn't electricity – it’s fuel – Jamie Guthrie, Christopher Flynn and Clare Pope (24 August 2026)
- Climate risk in the courtroom: what the 2026 global trends mean for Australian companies – Ilona Millar, Holly Sara, Daniel Moloney, Austyn Campbell and Lily Morton (24 August 2026)
- Pilbara 3.0: from opportunity to delivery – Clare Pope, Michael Blakiston and Christopher Marchesi (25 August 2026)
- G+T’s Super Vision – Luke Barrett, Jeremy Jose and Ilona Millar (26 August 2026)
- The interesting parts: what’s actually happening in Australian metals and mining right now – Mark McAleer and Simon Rear (26 August 2026)
- Corporate Advisory Update – Ilona Hunnisett (26 August 2026)