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Australian officials prepare trade reporting rules for OTC derivatives 

July 29, 2014
Andrew Saks McLeod, LeapRate

As ASIC follows the American and European lead in reformation of trade reporting for OTC derivatives, the regulatory authority seeks comment from the industry prior to implementation of proposed rulings.

In line with the regulatory reforms that have taken place in North America and are currently in progress in Europe with regard to the reporting of transactions conducted in OTC derivatives, the Australian Securities and Investments Commission (ASIC) has released a consultation paper which outlines its intention to follow in the footsteps of the world’s largest and most respected financial regulatory authorities, following the Antipodean regulatory authority’s recent signing of a memorandum of understanding in order to cooperate with American authorities on OTC derivative rulings.

Via the consultation paper, ASIC seeks feedback from industry participants regarding its proposals to amend the ASIC Derivative Transaction Rules (Reporting) 2013.

Read more: LeapRate

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