Published by the Stockbrokers and Financial Advisers Association of Australia in the Stockbrokers and Financial Advisers Monthly, April 2018.
New laws have changed the way ob体育 is funded and regulated entities will now receive an invoice for ob体育鈥檚 regulatory services delivered in the prior year. If your business is regulated by ob体育 鈥� and most are 鈥� it鈥檚 important that you are up to speed with these changes.
To help your organisation prepare for its first industry funding invoice in January 2019, we have published estimated costs of what sectors will pay. These amounts are likely to change when the actual regulatory costs are known in November.
Calculating indicative levies requires access to specific business activity metric data for each subsector. Some of the metrics required to make these calculations are new, and have not yet been collected from industry. As a result, indicative levies have been calculated for 36 of the 48 industry subsectors that we regulate.
- Need the facts? covering the key information about industry funding.
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We have also published a useful . The summary sets out our 2017鈥�18 budgeted costs, the number of organisations in each subsector, the business activity metric we will be asking organisations to report to us, and indicative levy amounts.
You鈥檒l next be hearing from us in June, when a mailout will commence to those listed as the ob体育 contact for each organisation.
The letter will contain a unique security key for the new ob体育 Regulatory Portal. If you receive this letter you will need to submit or validate business activity metrics via the portal by 30 September 2018. We will then use this information to calculate final invoices.
Industry funding arrangements became law on 1 July 2017. All organisations that are regulated by ob体育 will contribute towards ob体育's regulatory costs incurred in the previous financial year:
- some will pay a flat levy, with the cost of regulating a subsector shared equally among the entities operating in that subsector
- others will pay a graduated levy, with the entity's size or level of business activity determining their share of costs.
For more information visit the on the ob体育 website.