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The Australian Securities and Investments Commission - Regulatory guide 211 & Principles for Financial Market Infrastructures

ASIC is a member of IOSCO and therefore jointly responsible for implementing the CPMI-IOSCO Principles in Australia.

ASIC has extensive powers to enforce the laws and regulations that govern financial markets in Australia. Part 7.3 of the Corporations Act 2001 (Cth) (“the Act”) provides a licensing framework for domestic as well as overseas CS facilities that seek to operate in Australia. ASIC has responsibility for assessing each CS facility licensee on its compliance with its licence obligations under the Act on an annual basis.

In December 2012, ASIC published its amended Regulatory Guide 211 - Clearing and Settlement facilities: Australian and overseas operators, which took into account updated international standards, as well as domestic policy issued by the Council of Financial Regulators, and incorporated the CPMI-IOSCO Principles for Financial Market Infrastructures relevant to ASIC’s regulatory remit.

 

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