What You Actually Need to Use (and When)
ASIC has simplified its portal environment, but many AFSL and credit licensees still find it operationally unclear.
ASIC has transitioned away from the legacy system, ASIC Edge, with most compliance and lodgement functions now moved into newer platforms. You now operate across two core systems, and choosing the right one is essential for efficient AFSL compliance.
Choosing the wrong portal can result in rejected lodgements, reporting delays, and non-compliant submissions.
If you’re unsure whether to use ASIC Connect or the ASIC Regulatory Portal, you’re not alone. The distinction is not always obvious, but you can apply a clear rule once you understand how ASIC has split its systems.
“Clarity in systems reduces risk in practice. When compliance becomes operationally simple, it becomes consistently achievable. In a fragmented regulatory environment, knowing where to act is often as important as knowing what to do.” Sean Graham
Key Takeaways
- ASIC now operates through ASIC Connect and the ASIC Regulatory Portal
- Use the Regulatory Portal for breach reporting, AFSL applications, and compliance lodgements
- Use ASIC Connect for authorised representatives, financial advisers, and company updates
- ASIC Edge is no longer the primary system for compliance and lodgements
- Most Licensees must manage multiple ASIC keys, access roles, and user permissions across systems
- If unsure, default to the ASIC Regulatory Portal for any reportable, lodgement, or compliance-related activity
Common Failure Scenario
A Responsible Manager or Key Person departs, but you delay reporting because you’re unsure where or how to notify ASIC. The change isn’t lodged within the required timeframes, resulting in delayed notification, incomplete records, and potential non-compliance with ASIC’s expectations around timely reporting of key personnel changes.
In practice, this isn’t an administrative oversight. It’s a regulatory failure.
ASIC Connect vs ASIC Regulatory Portal
What is the difference between ASIC Connect and the Regulatory Portal?
ASIC Connect manages company records and adviser registers, including authorised representatives and financial advisers. The ASIC Regulatory Portal handles licensing, breach reporting, and regulatory lodgements. If the task relates to compliance or reporting, use the Regulatory Portal. If it relates to company records, use ASIC Connect.
Put simply:
- ASIC Connect manages company records and adviser registers
- ASIC Regulatory Portal manages licensing, compliance, and regulatory reporting
This distinction underpins most ASIC interactions for Licensees.
Core Systems
You now deal with two primary ASIC systems:
In practice:
- Use ASIC Connect for entity administration
- Use the Regulatory Portal for regulatory obligations and ASIC engagement
ASIC Portal Access and Keys
What ASIC keys do you need?
Most Licensees need an ASIC Key or Corporate Key for ASIC Connect and a Security (Industry Funding) Key for the Regulatory Portal. You also use user invitations to grant staff access. In practice, you manage at least two keys to maintain access across both systems.
ASIC assigns different credentials depending on the function:
- ASIC Key / Corporate Key
Use these for entity authentication and ASIC Connect access - Security (Industry Funding) Key
Use this to access the ASIC Regulatory Portal - User Invitations
Use these to grant staff access within the Regulatory Portal
In practice, most Licensees must manage at least two of these to maintain compliance workflows.
Operational risk often arises not from lack of knowledge, but from mismanaged access, including expired keys, incorrect permissions, or inactive user roles.
ASIC Connect (Company and Adviser Registers)
What is ASIC Connect used for?
ASIC Connect is used to manage company records and adviser registers. You use it to add, update, or cease authorised representatives and financial advisers, and to maintain company details such as directors, officeholders, and annual review information.
ASIC Connect maintains your company records and adviser registers.
For AFSL compliance, you use it to:
- Add, maintain, and cease authorised representatives
- Add, maintain, and cease financial advisers
- Update company details and corporate registers
Keys required
- ASIC Key
- Corporate Key
Financial adviser vs authorised representative
Correct classification is critical.
Individuals may be:
- Authorised representatives
- Financial advisers
- Both
In practice:
- Record a Responsible Manager who provides advice as a financial adviser only, depending on your structure
- Record a financial adviser under an authorised representative agreement as both
Only individuals you record as financial advisers in ASIC Connect appear on the MoneySmart Financial Adviser Register.
ASIC Regulatory Portal (Compliance and Reporting)
What is the ASIC Regulatory Portal used for?
The ASIC Regulatory Portal is used for regulatory reporting, including breach reporting, AFSL applications and variations, financial reporting, and notifications. It is the primary system for compliance interactions with ASIC and continues to expand as ASIC moves more obligations into this platform.
The ASIC Regulatory Portal handles regulatory reporting and compliance interactions.
For Licensees (AFSL and credit), you use it to:
- Lodge breach reports (reportable situations)
- Submit AFSL and ACL applications and variations
- Manage Responsible Manager appointments and changes
- Manage and pay the ASIC Industry Funding Levy
- Submit regulatory notifications and forms
- Lodge financial reports and auditor documents
Access required
- Security (Industry Funding) Key
- User invitations for staff
- Corporate Key (in some cases)
ASIC continues to expand this portal, so expect more compliance obligations to move here over time.
ASIC Edge Decommissioned
Is ASIC Edge still used?
ASIC Edge is no longer the primary system for compliance and lodgements. Most functions now operate through the ASIC Regulatory Portal for compliance and lodgements, and ASIC Connect for company records and register maintenance.
What replaced ASIC Edge?
ASIC replaced it with:
- Web-based systems
- Role-based access controls
- Entity-level permissions
- Full audit trails
In practice:
- Use the ASIC Regulatory Portal for lodgements and compliance workflows
- Use ASIC Connect for company administration and registers
Where ASIC Edge Functions Moved
ASIC has separated regulatory workflows from company administration.
Now in the ASIC Regulatory Portal
- AFSL and ACL applications and variations
- Responsible Manager changes
- Breach reporting (Reportable Situations module)
- Financial reporting workflows
- Managed investment scheme registrations
- Business and control notifications
Now in ASIC Connect
- Company registrations
- Director and officeholder updates
- Annual reviews and statements
- Share structure changes
- Financial adviser and authorised representative registers
Quick Decision Guide: Which ASIC Portal to Use
| Task | System |
| Apply for or vary AFSL or ACL | ASIC Regulatory Portal |
| Appoint or change Responsible Managers | ASIC Regulatory Portal |
| Lodge breach or reportable situation | ASIC Regulatory Portal |
| Submit financial statements or auditor reports | ASIC Regulatory Portal |
| Notify ASIC of significant business changes | ASIC Regulatory Portal |
| Register or update authorised representatives | ASIC Connect |
| Register or update financial advisers | ASIC Connect |
| Update company details | ASIC Connect |
| Complete annual review | ASIC Connect |
Rule of Thumb
If ASIC expects to receive something from you, use the ASIC Regulatory Portal.
Use the ASIC Regulatory Portal for licensing, compliance, reporting, and obligations. Use ASIC Connect for company records, registers, and administrative updates.
If unsure, default to the ASIC Regulatory Portal for any reportable, lodgement, or compliance-related activity. ASIC now treats many previously administrative processes as regulatory events.
Need help dealing with ASIC?
Whether you’re responding to an ASIC notice, updating your licence details, lodging a report or simply trying to work out which portal to use, mistakes can create unnecessary delays and regulatory risk.
Assured Support helps AFSLs and credit licensees navigate ASIC’s regulatory processes with confidence. From licence variations and regulatory lodgements to compliance reviews, breach reporting and governance support, we can help you understand what’s required and ensure your submissions are complete, accurate and defensible.
If you’re unsure what ASIC expects—or want confidence before you click Submit—talk to Assured Support about the most appropriate next step.
Further Reading
Frequently Asked Questions
For most AFSLs and credit licensees, the ASIC Regulatory Portal will be the primary platform for ongoing regulatory interactions. It is used for many licensing, compliance and reporting activities, while ASIC Connect continues to support certain registry and business registration functions.
The important point is that ASIC’s online services have evolved over time, so regulatory obligations remain spread across different systems. Understanding which portal supports a particular transaction helps avoid unnecessary delays and ensures submissions are made through the correct channel.
Rather than relying on memory, organisations should document which portal is used for common regulatory activities and periodically review those procedures as ASIC continues to expand the Regulatory Portal.
Most compliance-related tasks, such as breach reporting, AFSL variations, and notifications, are handled through the ASIC Regulatory Portal. ASIC Connect is primarily for maintaining company and adviser records.
In most cases, lodging information through the wrong portal will not satisfy the underlying regulatory obligation. At best, it may delay processing while the submission is redirected or resubmitted. At worst, a statutory notification or reporting deadline may be missed.
The greater risk is operational rather than technical. Staff may assume an obligation has been completed simply because information was entered somewhere within ASIC’s online systems.
Good governance means confirming the correct portal before preparing a submission, recording evidence that the lodgement has been accepted and ensuring responsibility for each regulatory interaction is clearly assigned.
Many do, but the answer depends on the activities they perform. While the ASIC Regulatory Portal has become the primary interface for many regulatory interactions, ASIC Connect continues to support a range of registry functions and adviser-related activities.
Rather than providing universal access, licensees should determine which staff require access to each system based on their responsibilities. Restricting permissions to those who genuinely need them reduces operational risk while maintaining appropriate business continuity.
Periodic access reviews also help ensure permissions remain appropriate as staff roles change.
Typically at least two: an ASIC or Corporate Key for ASIC Connect and a Security (Industry Funding) Key for the Regulatory Portal, plus user-level access controls.
Many organisations underestimate the number of credentials and authentication methods required to interact with ASIC’s online services. Depending on your structure and activities, you may need to manage ASIC Connect credentials, ASIC Regulatory Portal access, ASIC keys for registered entities and individual multi-factor authentication credentials.
The challenge is less about the number of keys than ensuring they are securely controlled, available when required and not dependent on a single individual. Lost credentials, shared logins or poorly documented access arrangements can delay regulatory interactions and create unnecessary operational risk.
Maintaining an internal register of ASIC credentials, authorised users and recovery arrangements provides greater resilience when staff leave or responsibilities change.
Maintaining accurate adviser classifications is more than an administrative task. Information recorded in ASIC Connect contributes to ASIC’s public registers and supports the integrity of regulatory information relied upon by consumers, licensees and the regulator.
Incorrect classifications may create confusion about an adviser’s authority, role or regulatory status and can result in unnecessary follow-up work to correct the register.
Licensees should periodically reconcile adviser records against their internal registers and governance processes to ensure changes in employment, authorisations and status are reflected promptly and accurately within ASIC’s systems.
Portal access should be treated as a governance control rather than an IT convenience. Staff should only receive the level of access required for their role, and organisations should periodically review who can lodge forms, update licence details or access sensitive regulatory information.
Access reviews should also form part of staff onboarding and offboarding. Former Responsible Managers, compliance contractors or external consultants should not retain unnecessary access after their engagement ends.
Good governance includes maintaining an access register, documenting delegated authorities and periodically confirming that portal permissions still reflect organisational responsibilities.
Submitting a form is only part of demonstrating compliance. Licensees should retain sufficient evidence to show what was lodged, when it was lodged, who authorised the submission and any confirmation received from ASIC.
Depending on the nature of the submission, this may include copies of completed forms, acknowledgement emails, transaction reference numbers, supporting documents and internal approvals.
Maintaining this evidence assists future compliance reviews, internal audits and regulatory enquiries, particularly where questions arise months or years after the original submission.
The technology is rarely the underlying problem. More commonly, organisations experience failures because responsibilities are unclear, important reminders are not monitored or key regulatory knowledge sits with a single individual.
Examples include relying on personal email addresses for notifications, failing to update Responsible Manager details, assuming a third party has completed a lodgement or having no documented process for monitoring ASIC correspondence.
These weaknesses increase operational risk because they reduce the organisation’s ability to demonstrate that regulatory obligations have been managed consistently.
