It's been more than a year since the Federal Government announced it would introduce an industry funding model for ASIC, commencing in the second half of 2017. This was followed by several rounds of consultation with industry and other interested parties, then a proposal paper in November 2016. Yesterday the Government issued draft regulations to recover ASIC's regulatory costs though annual levies and fees-for-service payable by each class of regulated entity, each financial year. The draft rules envisage a mix of flat fees and variable levies, based on factors such as predictability of each class of entity to ASIC.