ASIC will assume supervision of Australia’s domestic licensed financial markets from the ASX on 1 August 2010.
The Financial Services Minister has announced his intention to approve ASIC’s Market Integrity Rules, and to the consequential changes to the operating rules of the ASX Group. Together these will form the regulatory rules for the new market supervision regime.
How does this affect me?
- ASIC will assume responsibility for the supervision of domestic licenced financial markets and for participants; this includes the relationship between participants and their clients
- The ASX will retain responsibility for oversight of listed entities and clearing and settlement facility operators
ASIC Chairman, Tony D’Aloisio has said that ASIC is ready to assume responsibility and has assured market participants that while supervision is changing, their existing obligations will not change at this time.
For further information:
ASIC’s media release: 10-151MR