ASIC and APRA announce FAR changes to reduce administrative burden
Why this matters
ASIC and APRA announce streamlined Financial Accountability Regime (FAR) changes to reduce administrative burden across regulated entities. Changes include removing key function requirements, raising materiality thresholds for notifications, simplifying accountability maps, and reducing responsible manager licensing evidence requirements. Implementation targeted for end of 2026. This is informational regulatory guidance affecting all FAR-regulated entities across multiple sectors.
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What the ASIC said
ASIC and APRA announce FAR changes to reduce administrative burden
Published by ASIC . Read the full notice at the source for the authoritative text.
Context
Australian Securities and Investments Commission (ASIC) — Australia's financial services regulator. We track 319 updates from them.
Australian financial services are regulated by ASIC and APRA. Browse all Australia updates.
This update is classified under Authorisation & Licensing, Senior Managers / Governance, Reporting & Disclosure and Banking & Credit.