What is the maximum penalty for reportable situations to ASIC within 30 days (RG 78)?

Civil penalty up to $1.11M; criminal liability for failure to report

What evidence is required for reportable situations to ASIC within 30 days (RG 78)?

Breach register, RG 78 reports submitted via ASIC Regulatory Portal, investigation file notes.

Report reportable situations to ASIC within 30 days (RG 78) (2026)

Summary

Section 912D Corporations Act and s 50A NCCP Act require AFSL and ACL holders to report reportable situations to ASIC within 30 calendar days of having reasonable grounds to believe a reportable situation has arisen. RG 78 provides guidance. Significant breaches, investigations exceeding 30 days, and serious fraud must all be reported.

Enforced by

ASIC

Source legislation

Entity types

afsl holderacl holder

Topics

financial-servicesbreach-reporting

Related obligations

CWLTHComply with AFSL general obligations (s 912A)AFSL holders must do all things necessary to ensure financial services are provided efficiently, honestly and fairly.
CWLTHComply with Design and Distribution Obligations (DDO)Issuers and distributors of retail financial products must have a Target Market Determination (TMD) and distribute consistently with it.
CWLTHMaintain adequate PI insurance (AFSL holders, RG 126)AFSL holders providing financial services to retail clients must hold adequate professional indemnity insurance.
CWLTHBan on conflicted remuneration (FOFA)AFSL holders and representatives must not accept conflicted remuneration in connection with retail financial product advice.
CWLTHMaintain AFCA membership (mandatory external dispute resolution)AFSL + ACL holders must be members of AFCA — sole AU EDR scheme.
CWLTHRegister a Managed Investment Scheme under Ch 5CSchemes with 20+ retail members must be registered with ASIC as MIS.

Frequently asked questions

Who must comply with reportable situations to ASIC within 30 days (RG 78)?: AFSL holders, ACL holders.
What triggers reportable situations to ASIC within 30 days (RG 78)?: Reasonable grounds to believe a reportable situation has arisen.
When is reportable situations to ASIC within 30 days (RG 78) due?: Within 30 calendar days.
What is the maximum penalty for reportable situations to ASIC within 30 days (RG 78)?: Civil penalty up to $1.11M; criminal liability for failure to report
What evidence is required for reportable situations to ASIC within 30 days (RG 78)?: Breach register, RG 78 reports submitted via ASIC Regulatory Portal, investigation file notes.