Insurers, compliance officers and registered agents need to submit details of their operations to the Australian Securities and Investments Commission (ASIC) by September 27.

The requirement is part of industry funding arrangements that became law last year. Organisations overseen by ASIC must now contribute to associated regulatory costs incurred in the previous financial year. 

The information is to be submitted via the online ASIC Regulatory Portal.

ASIC Commissioner Cathie Armour says it is important all regulated entities complete the process, or they may incur penalties. 

“Because this is the first year of an entirely new funding model for industry, our focus is on ensuring people know what they need to do in advance,” she said.

ASIC has put an instructional video on its website showing how to complete the process.

There is also a checklist providing a summary of the “business activity metrics” organisations must submit.