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ASIC Implements Alterations to OTC Derivatives Reporting 

February 13, 2015

Jeff Patterson, Forex Magnates

The Australian Securities and Investments Commission (ASIC) has amended the Derivative Transaction Rules and corresponding derivative transaction rules on the heels of industry consultation and accompanying feedback on a consultation paper.

Back in December, ASIC intervened in a number of FX firms, implementing changes to enhance supervision for retail clients. In its latest move, ASIC has proposed a number of amendments after consultation with other financial regulators – the discussion centered on the obligation of large foreign subsidiaries of Australian authorized deposit-taking institutions (ADIs), along with Australian financial services (AFS) license holders to report OTC derivative transactions.

Read More: Forex Magnates

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