Transcript of Industry funding - this is how you submit your business activity metrics to ASIC video, uploaded 2 August 2018.
The Government has introduced new laws that change the way ASIC is funded.
Under the new arrangements regulated entities will receive an invoice for ASIC's regulatory services delivered in the prior financial year.
To ensure you meet your legal obligations as a regulated entity, you need to log on to the new ASIC Regulatory Portal and submit some information to us before 27 September.
This instructional video will provide you with a step-by-step guide on how to navigate the portal to complete this process.
The first step is to go to https://regulatoryportal.asic.gov.au and then select 'Register'.
From here you will need to select the tile that matches what you want to do. In this case, it is submitting your industry funding business activity metrics.
Have your unique industry funding security key and ASIC identifier ready and add them to the relevant sections when prompted. This information was included in a letter sent to each registered company address.
Registering an ASIC Regulatory Portal account for your entity can only be done by company directors or company secretaries who will be required to add in various personal details.
After selecting register, check your email inbox and follow the link provided - where you'll be required to set your account password.
Once you are at the portal log in page you'll need to enter your account username, which is your email address, and your recently created password.
It's time to select the entity you would like to submit business activity metrics for - from the list shown.
Before progressing further you will need to confirm some information for billing and correspondence purposes.
This is where you access the industry funding transaction by selecting the start new transaction button in blue.
Industry funding - this is how you submit your business activity metrics to ASIC
Transcript of Industry funding - this is how you submit your business activity metrics to ASIC video, uploaded 2 August 2018.
If you would like to delegate industry funding transactions to a trusted representative, you can connect users to your entity levels via the Administration tab within your portal account.
After selecting 'Start a new transaction' you'll need to follow the industry funding link on the next page.
This page includes information on what the actual transaction covers, including a privacy statement and other detailed information
Select 'Launch transaction' at the bottom of the page.
Do you want to restrict access to this transaction?
Here you will need to decide who can access this transaction – and you can restrict access if you choose to. Users should only restrict a transaction in the portal if they feel it is necessary.
You'll then need to confirm some information about your entity, which is based on pre-populated information from ASIC records, followed by confirmation of compliance and then billing contact details.
After clicking 'Next', it will be time to submit your actual industry funding business activity metrics. The information you submit here will be used to calculate your entity's share of ASIC's regulatory costs for the previous financial year so it is important it is accurate.
You'll see that there is a section for each of the industry subsectors your entity operates within.
The form will include a question and some blank fields which prompt you to add in some specific information. In some cases ASIC will also have already provided some pre-populated business activity metrics that you will need check and validate.
After completing the form, you will need to review the actual business activity metrics in your submission and your billing and contact details one last time.
You will also need to confirm what capacity you are making the declaration under, which will include your personal details.
There are several declarations that will then need to be made before you can select 'Submit'. You'll state that you are authorised by the Regulated Entity to submit this document, that you have read and understood ASIC's privacy policy and related consent information, and finally, that the information you have provided is true and correct.
After lodging your industry funding form, you will receive a reference number. Make a record of it in case you need to refer to your submission later. You will also be able to navigate to a PDF copy of your submission from within the portal at any time via your user account dashboard under the 'View all transactions' menu item at the top of the page.
For more information, or to register on the portal, go to https://regulatoryportal.asic.gov.au