Financial Services Law
Thursday, 4 April 2019
ASIC has now issued levies for the 2017 – 2018 financial year. These invoices were due to be paid by 15 March 2019. Late payment penalties apply from 1 April 2019 and these are as 20% per annum of the overdue levy amount. This is the first year of the new regime where ASIC will recover most of its regulatory costs from regulated industries. Many AFS Licensees and Credit Licensees have been surprised by the levies received.