ASIC has today released a consultation paper on proposed updates to its regulatory guidance for participants in the carbon market in relation to Australian financial services (AFS) licensing requirements.

The proposed updates address the implications of the safeguard mechanism reforms to the financial services and markets section of the Corporations Act 2001, as well as changes in the regulatory landscape for carbon markets, particularly Australian Carbon Credit Units (ACCUs), that have occurred since RG 236 was last re-issued in May 2015.

ASIC invites feedback on its proposals to update RG 236 by 3 June 2024.