ASIC consults on crypto-based ETPs

ASIC ETPs crypto assets

30 June 2021
| By Oksana Patron |
image
image
expand image

The Australian Securities and Investments Commission (ASIC) has announced the release of its consultation paper seeking feedback about exchange traded products (ETPs) and other investment products providing retail investors with exposure to crypto assets. 

The corporate regulator said that, given the “unique evolving characteristics and risks involved with crypto assets” it deemed it appropriate to consult widely on the proposals as these products would need to be recognised by market operators and product issuers and meet existing regulatory obligations. 

The paper would on the following key areas for market operators and issuers: 

  • Identifying crypto-assets that are appropriate underlying assets; and 
  • Establishing good practice in respect of pricing, custody, risk management, and disclosure. 

Other investment products covered by CP 343 Crypto-assets as underlying assets for ETPs and other investment products were listed investment companies, listed investment trusts and unlisted registered managed investment schemes. 

ASIC Commissioner Cathie Armour said: “Market operators and product issuers need to be mindful of meeting their existing regulatory obligations when creating, operating and allowing such products, so they can be facilitated in a way that maintains investor protections and Australia’s fair, orderly and transparent markets.” 

ASIC therefore would welcome submissions on CP 343 from all interested parties by Tuesday 27 July, 2021. 

The final information on good practices would be published shortly afterwards. 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

3 days 13 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 1 day ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 11 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

1 day 14 hours ago