ASIC has announced significant changes to how residential address information appears on company register extracts, effective immediately.
What's Changed
ASIC has removed officeholder residential addresses from both current and historical company search extracts available through the ASIC website. This change applies to all extracts purchased through their online platform.
Why This Matters
This removal is an immediate measure to address privacy and security concerns by eliminating the most publicly accessible source of residential address information for company officeholders. However, it's important to note:
- This is not a complete removal of residential address information from the register
- Address details remain accessible through copies of lodged documents
- ASIC recognises that this information serves important legitimate business and legal purposes
What's Next
ASIC is actively reviewing whether additional measures are needed to balance privacy protection with legitimate business needs.
Starting this week, ASIC will be consulting with data consumers, including accounting and administration professionals, to:
- Explain the changes in detail
- Discuss necessary adjustments to workflows and processes
- Ensure continued access to officeholder address information for legitimate business and legal purposes
What You Should Do
BGL is monitoring these developments closely and will keep you informed of any impacts to CAS360 functionality or your workflows. We recommend:
- Reviewing your current processes for accessing company officeholder information
- Preparing for potential changes to how this data is accessed
- Staying informed as ASIC's consultation process unfolds
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