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ASIC reports progress on regulatory simplification and digital lodgement push

The Australian Securities and Investments Commission has reported significant progress in its regulatory simplification program, highlighting a sharp expansion in electronic lodgement options and website redesigns. The initiative runs alongside record enforcement outcomes and aligns with broader regulatory reforms in the UK.

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The Australian Securities and Investments Commission (ASIC) has released a progress update on its regulatory simplification program, reporting substantial growth in electronic lodgement options and targeted changes to reduce compliance burdens for regulated entities.

According to Report 830, published on Tuesday, ASIC has achieved a 380% increase in the number of forms available for electronic lodgement. The agency is aiming to have 90% of its remaining paper-only forms available online by the end of June. ASIC stated that the ongoing digital shift has already eliminated about 45,000 paper lodgements per year.

Report 830 builds on REP 813, a consultation released in September 2025 that attracted 44 industry submissions. ASIC said that email lodgement expanded from 23 to 58 forms across 2025, with a further 30 forms added in April 2026, bringing total email-capable forms to 88. This expansion now covers more than 70% of the forms that were previously paper-only.

Digital tools and website overhaul

ASIC highlighted several digital initiatives that support its simplification agenda. In May 2025, the regulator launched a digital dashboard for Australian Financial Services (AFS) licence applications. The dashboard pre-fills data and reduces duplicate document uploads for applicants. A redesigned ASIC website went live in June 2025, with more than 280 form landing pages rewritten to improve clarity and usability.

ASIC Chairman Joseph Longo said the agency is prioritizing reforms expected to deliver the largest reductions in compliance load. The simplification program is running in parallel with ASIC's enforcement activities, which resulted in a record A$349.8 million in civil penalties in the second half of 2025.

Changes to reporting and dispute resolution

ASIC has also adjusted several regulatory reporting requirements. In June 2025, it raised the trigger for reporting investigations from 30 days to 60 days for AFS and Australian credit licensees. The agency additionally exempted firms from reporting certain breaches related to misleading and deceptive conduct.

As part of efforts to reduce reporting burdens, ASIC will halve the number of internal dispute resolution reports small banks must submit each year, cutting the requirement from two reports to one per entity.

UK FCA moves on regulatory priorities

The report also notes parallel developments in the United Kingdom. The UK Financial Conduct Authority (FCA) published its first Regulatory Priorities report on 24 February 2026, consolidating more than 40 portfolio letters into nine sector documents under its Smarter Regulatory Framework. The FCA has allocated £13.4 million to this program for 2026/27.

Revised regulatory roadmaps for small company directors and financial advice providers are scheduled for release by the end of June 2026, indicating further upcoming changes in the regulatory landscape.

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The UK FCA published its first Regulatory Priorities report, consolidating over 40 portfolio letters into nine sector documents, and allocated £13.4 million to the program for 2026/27.
Email lodgement expanded from 23 to 58 forms across 2025, with 30 more added in April 2026, bringing the total to 88 and covering more than 70% of previously paper-only forms.
ASIC extended the investigation reporting trigger from 30 to 60 days for AFS and Australian credit licensees, exempted some misleading and deceptive conduct breaches from reporting, and halved internal dispute resolution reports for small banks.
ASIC reports a 380% rise in forms available for electronic lodgement, elimination of about 45,000 paper lodgements annually, and a redesigned website with over 280 form landing pages rewritten.

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