Editorial Team – [2026] 185 taxmann.com 725 (Article)
World Corporate Law News provides a weekly snapshot of corporate law developments from around the globe. Here’s a glimpse of the key corporate law update this week.
1. Securities Law
1.1 ASIC Outlines Roadmap and Guidance for Digital Asset Licensing Regime Under DAF Act from April 2027
On 20 April 2026, Australian Securities and Investments Commission (ASIC) announced its intention to issue new regulatory guidance and prescribe certain operational standards as part of the implementation of new laws bringing digital asset platforms (DAPs) and tokenised custody platforms (TCPs) within the financial services licensing regime from April 2027.
The Corporations Amendment (Digital Assets Framework) Act 2026 (DAF Act) was passed by Parliament on 1 April 2026, received Royal Assent on 8 April 2026, and is scheduled to commence on 9 April 2027. The Act provides for an 18-month implementation period.
Under the new regime, ASIC will be responsible for licensing and supervising DAPs and TCPs, as well as enforcing compliance with the applicable legal framework.
To support industry participants, ASIC has outlined a roadmap for implementation. This includes the expected timeline and its approach to consultation on the proposed standards and guidance, along with early indications of the key areas to be covered.
Source – News
1.2 SEC and CFTC Jointly Propose Amendments to Reduce Private Fund Reporting Burdens
On 20 April 2026, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly proposed amendments aimed at reducing private fund reporting burdens while continuing to ensure the collection of necessary and relevant information.
The proposal seeks to amend Form PF, a confidential reporting form applicable to certain SEC-registered investment advisers to private funds, including those also registered with the CFTC as commodity pool operators or commodity trading advisors. Form PF is designed to assist the Financial Stability Oversight Council (FSOC) in monitoring systemic risk across financial markets. The SEC and CFTC also rely on the data collected through Form PF to support their investor protection mandates.
Commenting on the proposal, Paul S. Atkins stated that a key priority is to restore balance in disclosure obligations and reduce compliance costs. He noted that prior amendments to Form PF had resulted in overly burdensome requirements for advisers, often without a corresponding regulatory benefit, and that the proposed changes seek to better align disclosure requirements with the form’s intended purpose.
Similarly, Michael S. Selig emphasised that increasing filing thresholds and streamlining Form PF would help reduce compliance burdens. He added that public comments would play an important role in ensuring that the final framework effectively eliminates unnecessary costs while maintaining regulatory objectives.
Source – Press Release
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