All Entries Tagged With: "ASIC"
ASIC Update on Crossing Reporting
Market participants operating crossing systems are reminded of their obligations, under Part 4.3 of the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 (‘Competition MIRs’). ASIC has issued guidance on the obligations arising from operating such systems. These can be found in Section E of Regulatory Guide 223, Guidance on ASIC market integrity rules [...]
Upgrade For ASIC’s Market Surveillance System
The Federal Government has announced a budget commitment for ASIC to invest in a market surveillance system allowing it to plan for a future that includes greatly increased message traffic, new technologies and trading techniques, increased competition between trading venues and the increasing globalisation of capital markets. The market surveillance system will improve on technology [...]
ASIC Provides Direction on Market Structure Reforms
ASIC announced April 3 it has refined its proposals for market structure reform and issued a timetable for implementing the regulatory framework. Based on feedback on the key issues impacting market structure outlined in Consultation Paper 168 Australian equity market structure: Further proposals (CP 168), ASIC has revised its proposals, to: On automated trading – [...]
ASIC Releases Exchange Traded Funds Report
ASIC released a report on exchange traded funds (ETFs) March 29 which outlines how this growing industry is regulated in Australia and the impact of proposed international principles to address concerns by overseas regulators. Report 282 Regulation of Exchange Traded Funds ( REP 282), explains ASIC’s current understanding about the operation of ETFs and ongoing [...]
ASIC Releases Draft Disclosure Guidance for Hedge Funds
ASIC released February 23 for consultation draft regulatory guidance with new disclosure benchmarks and principles for hedge funds to improve investor awareness of the risks associated with these products. The guidance, contained in Consultation Paper 174 Hedge funds: Improving disclosure — Further consultation (CP 174), sets out the specific features and risks of hedge funds [...]
ASIC Supervision and Competition Cost Recovery for ASX and Chi-X Participants
As of 1 January 2012, a new market supervision fee model and cost recovery arrangement is in force to allow the recovery of costs from market operators and participants (ie. stockbrokers) for the supervision of Australia’s equities markets. The new cost recovery regime, which was developed by Treasury and ASIC in consultation with industry, complies [...]
ASIC Regulatory Cooperation With Canada
The Australian Securities and Investments Commission (ASIC), the Quebec Autorité des marchés financiers (AMF), the Ontario Securities Commission (OSC), the Alberta Securities Commission (ASC) and the British Columbia Securities Commission (BCSC) announced February February 10 a comprehensive arrangement to facilitate their supervision of regulated entities that operate both in Australia and Canada. ASIC Chairman Greg [...]
ASIC Releases Third Market Supervision Report
ASIC on February 7 issued its third report on the supervision of Australian financial markets and market participants. Report 277 ASIC supervision of markets and participants: July to December 2011 (REP 277) identified that during the reporting period: There were 20,029 trading alerts with 131 matters requiring further consideration during the reporting period. Alert numbers [...]
ASIC Finalises Investigation into Saxo Bank Following Sonray Collapse
ASIC has finalised its investigation into Saxo Bank A/S, the former provider of the trading platform for collapsed broker, Sonray Capital Markets Pty Ltd (in liquidation) (Sonray). Following the conclusion of that investigation, which focused on the risk management practices of Saxo Bank, ASIC has agreed with Saxo Bank that additional licence conditions will be [...]
ASIC Proposals for Research Houses
ASIC released a consultation paper November 16 proposing research report providers, including research houses, separate their business units as a strategy to manage conflicts of interest as part of moves to improve confidence in the independence and quality of research reports. This proposed segregation would involve strict and formal physical and electronic separation between ancillary [...]
