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
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.