meta_id 3018519

On January 2026, the Australian Securities and Investments Commission (ASIC) remade legislative relief instruments for foreign companies operating as Australian financial services (AFS) licensees and foreign authorised deposit-taking institutions (ADIs) following industry consultation. ASIC Corporations (Foreign Licensees and ADIs) Instrument 2026/121 provides exemptions for foreign licensees from record-keeping obligations and requirements to lodge and have audited financial statements under Division 6 of Part 7.8 of the Corporations Act 2001. The instrument also exempts foreign ADIs from the requirement to hold an AFS licence when dealing in derivatives and foreign exchange contracts on their own behalf. This new instrument replaces ASIC Corporations (Foreign Licensees and ADIs) Instrument 2016/186 and will expire on 1 April 2031. Additionally, ASIC extended ASIC Corporations (Licence Conditions—Treatment of Lease Assets) Instrument 2021/229 for five years to 1 May 2031. This instrument permits certain AFS licensees to include lease assets (right-of-use assets) when calculating their net tangible assets, adjusted surplus liquid funds and surplus liquid funds. ASIC conducted consultation on the proposal to remake relief for foreign licensees and ADIs, and to extend relief for AFS licensees, in December 2025. No submissions were received during the consultation period. ASIC will also make minor updates to Form 405 Statement to verify financial statements of a foreign company. **References:** ASIC Newsroom: ASIC remakes relief instruments for AFS licensees and overseas banks