meta_id 3127164

On March 2025, the Australian Securities and Investments Commission (ASIC) announced its proposal to remake ASIC Corporations (Client money - Cash common funds) Instrument 2016/671, which is scheduled to expire on 1 October 2026. The instrument enables Australian Financial Services (AFS) licensees to deposit client money into cash common funds, provided the fund is also a registered scheme. ASIC has assessed that the instrument is operating effectively and continues to form a necessary and useful part of the legislative framework. The effect of the instrument will remain unchanged when remade. The instrument provides flexibility to licensees in managing client money while maintaining consumer protections under Section 981B of the Corporations Act 2001 (Corporations Act). The current instrument extended relief previously provided under ASIC Class Order [CO 04/1063]. ASIC is seeking feedback from stakeholders on the proposal to remake the instrument. Submissions should be sent to rri.consultation@asic.gov.au by 5 pm Australian Eastern Standard Time (AEST) on Tuesday 19 May 2026. The consultation period allows AFS licensees, industry bodies, consumer advocates, and other interested parties to provide input on the proposed remake before the current instrument expires. **References:** ASIC Newsroom: ASIC proposes to remake legislative instrument about client money held in cash common funds