Why have ASIC’s regulatory costs doubled in 2 years?
Total regulatory costs for the advice sector in the FY2019–20 have almost doubled in a couple of years to $59.59 million, subsequently lifting levies by well over 100 per cent in the last two years alone.
Data recently provided to the standing committee on economics by the Australian Securities and Investments Commission (ASIC) revealed that the total regulatory costs for the financial advice sector in the FY2019–20 reached $59.59 million compared with $34.07 million in FY2018–19 and $28.26 million a year earlier.
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