meta_id 3374953

On July 7, 2026, the Australian Securities and Investments Commission (ASIC) published the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648, which came into force on the same date. The instrument, administered by the Department of the Treasury, establishes financial resource requirements for entities providing custodial or depository services under the Corporations Act 2001. The instrument declares adequate financial resources standards that custodial and depository service providers must maintain to ensure they can meet their obligations to clients and protect client assets. These requirements form part of ASIC's broader regulatory framework governing financial intermediaries and service providers in Australia's financial system. The financial requirements aim to enhance consumer protection by ensuring service providers maintain sufficient capital and liquidity to withstand operational challenges and safeguard client funds held in custody or deposit. The instrument replaces previous regulatory arrangements through its repeal provisions, consolidating financial requirements into a single legislative instrument. This streamlines the regulatory framework for custodial and depository service providers, clarifying their obligations under the Corporations Act 2001. The instrument applies to all entities operating as custodial or depository service providers within Australia's regulatory jurisdiction and seeking to maintain or obtain authorisation to provide these services. REFERENCES: Federal Register of Legislation: ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648 https://www.legislation.gov.au/