AUSTRAILIA: ASIC Consolidates its Market Integrity Rules

Monday November 20 2017

On 17^th November 2017 the Australian Securities and Investments Commission (ASIC) consolidated its market integrity rules. Thirteen of the existing fourteen rule books were consolidated into four rule books in order to create a common set of rules for securities markets and a common set of rules for futures markets.

• The ASIC Market Integrity Rules (Securities Markets) 2017 (Securities Markets rules) set out obligations and prohibitions applying to activities and conduct on the ASX, Chi-X, NSXA, SSX, IR Plus securities markets as well as competition between securities markets;
• The ASIC Market Integrity Rules (Futures Markets) 2017 (Futures Markets rules) apply to activities and conduct on the ASX 24 and FEX futures markets;
• The ASIC Market Integrity Rules (Securities Markets – Capital) 2017 (Securities Capital rules) set out capital and reporting requirements for participants of the securities markets; and
• The ASIC Market Integrity Rules (Futures Markets – Capital) 2017 (Futures Capital rules) set out capital and reporting requirements for participants of the futures markets.

These rules are comprehensive and outline key issues such as:

• participants’ management requirements and responsible executives;
• dealing ‘as principal’
• block trades and large portfolio trades; and
• record keeping requirements for market operators

Market operators and market participants will have to comply with the consolidated market integrity rules from Monday 7 May 2018.

For additional information please click the link above