meta_id 3374954

On July 7, 2026, the Australian Securities and Investments Commission (ASIC) updated financial requirements for custodial and depository service providers through the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648. The instrument, administered by the Department of the Treasury, operates under the authority of the Corporations Act 2001. The instrument establishes financial standards that custodial and depository service providers must maintain to operate in Australia. These requirements form part of ASIC's regulatory framework designed to protect investors and ensure the financial stability of entities holding client assets. Custodial and depository service providers play a critical role in Australia's financial system by safeguarding securities, cash, and other assets on behalf of clients. By setting clear financial requirements, ASIC aims to mitigate risks associated with provider insolvency and ensure these entities maintain sufficient capital and liquidity to meet their obligations. The updated instrument applies to all Australian Financial Services Licensees (AFSL) and Australian Market Licence (AML) holders providing custodial or depository services. Compliance with the financial requirements is mandatory for all in-scope service providers. The instrument came into force on July 7, 2026. Service providers should review the updated requirements and ensure their financial arrangements comply with the new standards. The full text of the instrument is available on the Federal Register of Legislation website in both Word and PDF formats. REFERENCE: Federal Register of Legislation: ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648