Who must report reportable situations to ASIC within 30 days (RG 78)?
The applicability test for Report reportable situations to ASIC within 30 days (RG 78) (ASIC), computed across 35 industries, 9 business structures and 6 size bands.
Short answer: Only if
Applies when the business has an AFSL or ACL.
What the obligation is
AFSL/ACL holders must report reportable situations within 30 calendar days of becoming aware.
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.
The applicability test
Applies when the business has an AFSL or ACL.
How the regulator frames it: AFSL holders, ACL holders.
What triggers it: Reasonable grounds to believe a reportable situation has arisen.
Jurisdiction: Commonwealth law, so the test is the same in every state and territory.
Which industries are in or out
Outcome across the 35 industries Rules Mate maps (35 of 35: no).
The answer is the same in every industry: no. Industry does not change who must comply.
Business structure and size
Structure does not change the answer across all industries: for every structure the answer is "no".
Size does not change the answer across all industries: at every size band the answer is "no".
Worked examples
Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:
- Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires an AFSL or ACL.
Answers that bring it into scope
Starting from a small or large professional services company that does not otherwise meet the test, each of these single facts changes the engine's answer:
- The business holds an Australian financial services licence (AFSL): it then applies (AFSL holder).
- The business holds an Australian credit licence (ACL): it then applies (ACL holder).
What you must do, and when
- When due
- Within 30 calendar days.
- Frequency
- When a triggering event occurs
- Evidence to keep
- Breach register, RG 78 reports submitted via ASIC Regulatory Portal, investigation file notes.
- Status
- Current
- Priority
- Critical
Penalty for not complying
Maximum penalty: Civil penalty up to $1.11M; criminal liability for failure to report.
Criminal liability
Audit or assurance level
Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.
Obligations with the same applicability test
If this obligation applies to you, so do these 2: the engine uses the same rule for each.
Where it sits in the corpus
Rules Mate tracks 17 published obligations tagged "financial services", 12 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated critical priority and carries criminal liability, and is triggered by events.
Regulator, legislation and tools
Regulated by Australian Securities and Investments Commission.
ASIC: Corporate regulator administering the Corporations Act, financial services and credit licensing (AFSL/ACL), markets supervision, insolvency, and registries (ASIC and ABRS).
Corporations Act: The foundational federal Act for Australian corporate law.
NCCP Act: Federal regulation of consumer credit.
Free tools that help with this obligation:
Questions
- Who must report reportable situations to ASIC within 30 days (RG 78)?
- Applies when the business has an AFSL or ACL.
- Do sole traders need to report reportable situations to ASIC within 30 days (RG 78)?
- No. Across every industry and every size band, the engine's answer for a sole trader is: no.
- Do businesses with 1–5 employees need to report reportable situations to ASIC within 30 days (RG 78)?
- No (1–5 employees, turnover $100K–$1M).
- When is "Report reportable situations to ASIC within 30 days (RG 78)" due?
- Within 30 calendar days.
Related
Sources
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.