The Australian Securities & Investments Commission (ASIC) has launched Consultation Paper 388 on options to increase the net tangible assets (NTA) requirement for responsible entities of registered managed investment schemes, proposing changes to the existing framework in Instrument 2023/647. The consultation also seeks views on raising NTA requirements for other fund operators, including operators of investor directed portfolio services (IDPSs) and corporate directors of retail corporate collective investment schemes (CCIVs), and canvasses NTA settings for other categories of licensees to inform future ASIC work. ASIC noted it last amended the NTA thresholds for responsible entities in 2013 and reiterated that the requirement is intended to support alignment with members’ interests, cover operating costs, and fund an orderly transition if a scheme fails, rather than prevent business failure or fully compensate investors. Submissions close at 5.00 pm AEST on 17 April 2026, and ASIC plans to announce its final position by 31 July 2026.
Australian Securities & Investments Commission 2026-03-18
Australian Securities & Investments Commission consults on increasing net tangible asset requirements for responsible entities and other fund operators
The Australian Securities & Investments Commission (ASIC) has issued Consultation Paper 388 to explore increasing net tangible assets (NTA) requirements for responsible entities of registered managed investment schemes, as well as other fund operators. The consultation aims to align NTA thresholds with member interests and operational costs, with the last amendment made in 2013.