Joint Submission – CS16 Reportable situations additional relief

Chartered Accountants Australia and New Zealand, CPA Australia, Financial Advice Association of Australia, Institute of Public Accountants and the SMSF Association (joint bodies) welcome the opportunity to provide this submission in response to ASIC’s proposal to provide additional relief under the reportable situations regime.

We support the objective to provide relief from lodging reports that provide very little intelligence, striking an appropriate balance between reducing the unnecessary regulatory burden on AFS licensees, while preserving the intention of the reportable situations regime.