Funds and Australian derivative reporting

By John Elias

A new derivative reporting regime will commence in Australia in 2015. It will apply to Australian entities that hold an Australian financial services licence (AFSL) and exempt foreign licensees (being offshore regulated parties that have the benefit of an exemption from the requirement to hold an AFSL) that have entered into over-the-counter (OTC) derivatives.

Non-compliance could lead to substantial civil penalties.

Fund managers should use the rest of 2014 to determine to what extent the new rules apply to their derivative exposures and the manner in which they propose to address these requirements…

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