The protection and regulation of international trade of Australia’s native species is legislated by its Environment Protection and Biodiversity Conservation Act of 1999. In response to overwhelming evidence that the Act is ineffective at protecting biodiversity, the Australian Government is currently reforming its environmental laws. One problematic component of the Act is in cases where threatened species interact with multiple regulatory and management frameworks, such as commercially fished marine species that are traded as seafood. Here, we analyzed international seafood trade data and found that Australia exports four threatened fish species listed under the Act and additional species acknowledged as globally threatened. In light of our analysis, we have three recommendations for Australia’s new environmental legislation: 1) apply the same precautions to commercially harvested species as to other threatened species; 2) review the status of all threatened species annually; and 3) assess species listed on global conservation conventions. These recommendations will help ensure that Australia’s marine biodiversity is protected, despite its commercial value.