ASIC consults on regulatory changes
|
|
Regulatory changes to the way Australia’s security market is supervised are being discussed, with the Australian Securities and Investments Commission (ASIC) releasing a consultation paper relating to proposed changes to its market integrity rules.
ASIC will take over responsibility for the supervision of real-time trading of Australia’s domestic licensed markets, which will supplement its existing responsibility for enforcement of laws relating to market misconduct.
The consultation paper, Proposed ASIC Market Integrity Rules — ASX and SFE Markets, suggested market integrity rules to apply to trading on the Australian Securities Exchange and Sydney Futures Exchange markets be based on the existing rules of these markets while clarifying the supervisory responsibilities of ASIC and market operators, according to ASIC.
“While the responsibility for supervising the rules is changing, we do not propose to change the substance of the rules at this time,” said ASIC chairman Tony D’Aloisio.
“The market integrity rules we are releasing today are an important step in creating an improved regulatory framework with less duplication and a more streamlined and efficient approach to the monitoring of trading,” he said.
“ASIC and ASX are well progressed in transitioning the market supervision to ASIC and we are working together and with market participants to ensure stability, clarity and certainty,” he said.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
