ASIC’s 11th hour securities dealer CSLR levy | Australian Markets

With the Australian Securities and Investments Commission (ASIC) resulting from begin issuing Compensation Scheme of Last Resort (CSLR) levy notices as we speak, securities sellers are going through into a modified levy quantity.

ASIC has written to these within the securities dealer sub-sector to tell them of the modified quantity based mostly on the exclusion of key product lessons, together with exchange traded funds (ETFs).

Its message stated that ASIC has recalculated the entity metric to exclude transactions on giant securities exchanges in sure product lessons which will embody merchandise that don’t meet the definition of ‘securities’ as outlined in s92(5) of the Corporations Act 2001.

“Product classes excluded in the recalculation of the entity metric are exchange traded funds, listed investment trusts, real estate investment trusts, trading warrants, ASX exchange traded options and certain structured products,” the message stated.

The ASIC message stated the up to date levy payable wouldn’t end in a change to the full quantity levied to the sub-sector in 2025-26 however will affect the distribution of levies within it.

It stated that for the 2025-26 levy period, licensees within the securities sellers sub-sector will incur a minimal levy of $100 plus $21.69 per $1 million of annual transactions in securities on a giant securities exchange.

The levy for securities sellers compares to the minimal levy of $100 plus $1,295 being utilized to the personal advice sector and the minimal levy of $100 plus $3.62 per $1 million of credit supplied above $100 million for credit suppliers.

The ASIC web web site notes that the full estimate for the personal financial advice sub-sector is $70.110 million however ASIC is required to cap the annual levy at $20 million.

“Whether the remaining amount (eg $50.110 million) is imposed as a special levy is subject to the Minister’s discretion,” it stated.