Call for ASX to broaden scope of regulation review
The InstituteofActuariesof Australia (ICA) is calling on the ASX to move beyond short-selling in its proposed changes to reporting requirements to incorporate margins loans and other financing activities.
It believes the proposals outlined in an ASX public consultation paper released last month “do not go far enough in addressing a wide range of financing activities, such as margin lending, that have added to market risk”.
The paper includes a range of possible improvements to the existing regulation of short-selling in Australia aimed at increasing the transparency of short-selling.
ICA president Greg Martin said there has recently been “an explosion in the use of other forms of financing, such as margin lending”.
“All of these activities involve increased leverage in the market and have the potential to cause, and have caused, dislocation in the market.
“It seems sensible to adopt a more holistic approach to disclosure of these activities.”
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