ASIC has made the instrument raising financial-resource thresholds for responsible entities of registered managed investment schemes, investor-directed portfolio service operators and corporate directors of retail corporate collective investment vehicles. Its 21 October regulatory update confirms the revised guidance. The higher requirements begin on 1 July 2027.[1][2]
This is the implementation of a policy announced in July, with annual inflation adjustments added to thresholds last updated in 2013. For investment platforms, the change creates a recurring capital-planning obligation alongside the initial increase. ASIC says it will publish updated thresholds each year from 2027.[1]
Selected Australian-dollar thresholds before annual indexation
| Component | Existing amount | New unindexed base |
|---|---|---|
| Minimum NTA floor under the qualifying-custody test | A$150,000 | A$200,000Source 3Source 4 |
| Cap on the fund-assets component of that test | A$5 million | A$7 millionSource 3Source 4 |
| Floor where the specified custody conditions are not met | A$10 million | A$14 millionSource 3Source 4 |
The new bases are not the final July 2027 amounts. The instrument applies indexation from the first year, using March 2026 CPI divided by March 2025 CPI for that initial adjustment. The factor is rounded to three decimal places and the resulting thresholds to the nearest A$1,000. Subsequent years build on the previously indexed amount.[3]
Where custody conditions are satisfied, the NTA requirement is the greatest of the minimum floor, 0.5% of average fund assets subject to its cap, and 10% of average revenue. The cap limits the asset-based component; the overall requirement can be higher because of the revenue test.[4]
Operators outside those custody conditions face the greater of the higher fixed floor and 10% of average revenue. Compliance continues while the relevant authorisation is held, including periods when the service is inactive.[4]
ASIC describes the financial requirement as supporting operating costs and the orderly transfer of a scheme if its operator fails. It is not designed to eliminate business failure or reimburse every investor loss. That purpose matters when assessing the commercial effect: additional resources belong in the operator’s financial-resilience plan, rather than being presented as a new guarantee attached to its investment products.[5]
Sources & further reading
- ASIC makes instrument to increase net tangible assets requirement for responsible entities Australian Securities and Investments Commission · 21 Oct 2026 · Accessed 21 Oct 2026
- Regulatory tracker 2026: 21 October entries Australian Securities and Investments Commission · Accessed 21 Oct 2026
- ASIC Corporations (Amendment) Instrument 2026/708 Australian Securities and Investments Commission · 15 Oct 2026 · Accessed 21 Oct 2026
- Regulatory Guide 166: Financial requirements, October 2026 update Australian Securities and Investments Commission · 21 Oct 2026 · Accessed 21 Oct 2026
- ASIC announces changes to net tangible assets requirement for responsible entities Australian Securities and Investments Commission · Accessed 21 Oct 2026