On 9 December 2025, the Australian Securities and Investments Commission issued a catalogue summarising key legal obligations and regulatory guidance to help private credit fund operators more easily identify and comply with existing regulatory obligations. The catalogue is not intended to be a substitute for legal advice and does not include all applicable legal and
Tim Sutton
ASIC publishes new exemptions to support digital asset innovation
By Liz Hastilow, Tim Sutton, Michele Beck & Merren Taylor on
On 9 December 2025, the Australian Securities and Investments Commission (ASIC) issued new measures that build on the previous stablecoin relief by exempting intermediaries from the requirement to hold separate Australian financial services (AFS), Australian market, or clearing and settlement facility licences when providing services relating to eligible stablecoins or wrapped…
ASIC updates guidance on product disclosure statements
By Liz Hastilow, Tim Sutton, Penny Limperis & Sam Smith on
On 3 December 2025, the Australian Securities and Investments Commission (ASIC) updated Regulatory Guide 168 Product Disclosure Statements: Disclosure and other obligations (RG 168) following consultation with industry.
Background
RG 168 provides guidance on preparing product disclosure statements (PDS) that comply with the requirements in the Corporations Act 2001…
ASIC updates its guidance on digital disclosures
By Liz Hastilow, Tim Sutton, Penny Limperis & Sam Smith on
On 3 December 2025, the Australian Securities and Investments Commission (ASIC) updated Regulatory Guide 221 Facilitating digital financial services disclosures (RG 221).
RG 221 explains ASIC’s approach to provisions in Parts 7.7 and 7.9 of the Corporations Act 2001 (Cth) (Corporations Act), the use of digital delivery of financial…
ASIC Commissioner speech – Time to get on with business
By Liz Hastilow, Tim Sutton, Penny Limperis & Sam Smith on
On 5 December 2025, the Australian Securities and Investments Commission (ASIC) published a speech by Commissioner Kate O’Rourke at the 2025 Small Business Association of Australia International Small Business Summit. The speech is entitled ‘Time to get on with business’.
In her speech Commissioner O’Rourke outlines ASIC’s program to ease regulatory burdens…
APRA finalises changes to phase out Additional Tier 1 capital instruments
On 4 December, the Australian Prudential Regulation Authority (APRA) released a letter that responds to submissions to its consultation on amendments to its prudential and reporting frameworks to facilitate the phase out of Additional Tier 1 (AT1) capital instruments – also known as hybrid bonds – as eligible regulatory capital for…
APRA consults on formalising a three-tiered approach to proportionality in banking prudential framework
By Liz Hastilow, Tim Sutton & Penny Limperis on
On 5 December 2025, the Australian Prudential Regulation Authority (APRA) published a Discussion Paper ‘A more proportionate banking prudential framework’.
Background
The Discussion Paper is part of the Council of Financial Regulators’ Review into Small and Medium-sized Banks and APRA’s commitment earlier this year to make the Australian banking prudential framework…
Extended Transitional Relief for Foreign Financial Services Providers
On 5 December 2025, ASIC has again extended the transitional relief for foreign financial services providers (FFSPs) for an additional 12 months (until 31 March 2027).
A person who carries on a financial services business in Australia must hold an Australian financial services licence (AFSL) covering the provision of the financial…
Regulation Around the World – Issue 16: Basel 3.1 implementation
In this latest issue of Regulation Around the World we look at how regulators have implemented the Basel 3.1 reforms, asking eight key questions in the following jurisdictions: United Kingdom, United States, EU, Luxembourg, France, Italy, Turkey, Netherlands, Australia, South Africa and the UAE. For European jurisdictions we add one further topical question outside of…
ASIC invites feedback on stamp duty and portfolio holdings transparency
On 28 November 2025, the Australian Securities and Investments Commission (ASIC) initiated consultations on proposed changes to stamp duty and portfolio holdings disclosure requirements.
Background
The proposals are a result of ASIC’s targeted review of superannuation investment disclosure requirements announced in August 2025. As part of this review, ASIC established a Working Group…