31 August 2016
Find out more

Asic consults on clearing reforms

11 September 2012  |  1573 views  |  0 Source: Asic

ASIC today issued a consultation paper proposing amendments to its regulatory guidance for clearing and settlement facilities (CS facilities) to take into account updated international standards and recent Council of Financial Regulators (the Council) policy.

The proposals seek to align ASIC's oversight of CS facilities with the recently releasedPrinciples for Financial Market Infrastructures. These have been developed by the Committee on Payment and Settlement Systems (CPSS) and Technical Committee of the International Organization of Securities Commissions (IOSCO).

The proposals will also provide certainty and transparency on how ASIC intends to put in place measures and update its existing guidance to ensure there is appropriate regulatory influence over cross-border CS facilities. These measures have been set out in the Council's paper Ensuring Appropriate Influence for Australian Regulators over Cross-Border Clearing and Settlement Facilities.


The Reserve Bank of Australia (RBA) is also consulting on complementary proposals to determine new financial stability standards to take into account these policy developments.

Submissions on ASIC's proposed amendments close on 19 October 2012.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit www.smartstream-stp.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
9849 views comments | 23 tweets | 26 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
7514 views comments | 11 tweets | 10 linkedin
Mondo becomes MonzoMondo becomes Monzo
6688 views comments | 14 tweets | 9 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
6611 views 0 | 5 tweets | 15 linkedin
Global Fintech Hubs Federation launchesGlobal Fintech Hubs Federation launches
5853 views comments | 19 tweets | 5 linkedin

Featured job

Find your next job