Funds Update - 12 September 2025

1: Improving access to regulatory information

• ASIC launched a new website in June which features subject-specific hubs, including one for managed funds (see here).
• Industry specific regulatory roadmaps are being piloted to help industry participants understand and navigate their regulatory obligations. There are currently pilot roadmaps for ‘small-company directors’ and ‘financial advice providers’.
• ASIC is reviewing its guidance materials with consultant support.

2: Reducing complexity in regulatory instruments

• ASIC acknowledges that its 273 legislative instruments (and specifically its 50 investment management instruments) are complex and difficult to navigate.
• Its new best-practice drafting principles are aimed at producing shorter, clearer instruments, written in plain language.
• Two pilot projects are being tested: consolidating 21 financial reporting and accounting and audit related instruments and simplifying platform relief instruments.

3: Making it easier to interact with ASIC

• ASIC will, where practical, engage with entities before issuing detailed data requests in proactive thematic surveillances, to clarify requirements and avoid duplication.
• Electronic signatures will be accepted on all ASIC forms from 1 October 2025, and more forms will be eligible for email lodgement.
• There have been upgrades to ASIC’s digital infrastructure, including a new professional register  search and regulatory portal.

4: Simplification through law reform

• ASIC is working with Treasury on potential reforms on simplifying the reportable situations regime and substantial holding notices.