Australia has taken another significant step towards greater corporate transparency, with ASIC finalising the technical framework that will support the country's enhanced beneficial ownership regime.
Following industry consultation, ASIC has confirmed the legislative instruments, guidance and reporting mechanisms that will underpin the new disclosure requirements. The reforms are designed to improve visibility into who ultimately owns, controls or has significant economic exposure to listed entities, while also simplifying compliance through a streamlined reporting framework.
Earlier in 2026, ASIC consulted on draft technical settings earlier this year in Consultation Paper 387 Enhanced beneficial ownership disclosure: Proposed legislative instrument, form and guidance after reforms passed in December 2025 imposed enhanced substantial holding disclosure and beneficial ownership disclosure obligations on listed entities.
Among other changes, ASIC has:
- made the new Substantial Holding Notice (SHN) form, consolidating three forms into one
- simplified the calculation used to determine deemed economic interests and offsetting short positions in listed securities, and
- implemented an index-based format for registers of relevant interests (RORI).
The new obligations will come into effect on 4 December 2026, when entities listed on Australian financial markets become subject to the enhanced beneficial ownership and substantial holding disclosure requirements. From 4 June 2027, companies will be expected to comply fully with the new reporting framework.
For Australia's corporate register ecosystem, the reforms represent an important milestone. More accurate and consistent ownership information strengthens the integrity of the register, improves market transparency and provides regulators, investors and government agencies with better visibility into corporate ownership structures. Enhanced beneficial ownership data also supports efforts to combat financial crime, increase market confidence and improve regulatory oversight.
However, the changes also introduce new challenges. Capturing and maintaining beneficial ownership information is inherently more complex than recording legal ownership. Companies will need stronger governance processes, more robust data management practices and the ability to identify indirect ownership structures that may span multiple jurisdictions.
Australian corporate registers will also face increasing challenges as demands for interoperability, data validation, and scalable digital services grow, requiring systems capable of managing richer, more dynamic ownership data.
As beneficial ownership regimes continue to evolve globally, the ability to manage high-quality corporate data will become an increasingly important capability for governments and registry operators alike.
Australia's latest reforms demonstrate that modern corporate registers are no longer simply repositories of company information. They are becoming critical components of trusted digital infrastructure that support transparency, economic resilience and public trust.
For more information visit ASIC's official news release: ASIC paves the way for greater transparency of listed entity ownership and control | ASIC