Reporting back: Australia’s rules on derivatives trade reporting released
Mandatory reporting of over-the-counter derivatives contracts will start this year for Australians. Even those who have managed to escape the reach of Dodd-Frank and EMIR will need to understand the draft derivative transaction rules proposed by the Australian Securities and Investments Commission (ASIC). End users need to care too.
Trade reporting is one of the key G20 derivatives reforms following the global financial crisis. It is also one of the least controversial. The need for regulators to have access to information on the derivatives transactions which connect financial market participants is generally recognised and understood. For example, reporting requirements are already imposed, or in train, under Dodd- Frank in the US and under EMIR in Europe. Accordingly it makes sense that reporting is the first of the G20 obligations to be implemented in Australia and today ASIC released a consultation package on the new Derivative Transaction Rules (DTRs) that will effect that implementation…
If you are registered and logged in to the site, click on the link below to read the rest of the King & Wood Mallesons briefing. If not, please register or sign in with your details below.
News from King & Wood Mallesons
News from The Lawyer
Briefings from King & Wood Mallesons
An in-depth understanding of the unique legal environment in China is essential to fully understand compliance requirements.
The assistant treasurer was quizzed recently about the timetable for his Future of Financial Advice changes.
Analysis from The Lawyer
All-encompassing change is now a reality for the UK’s top 200 firms. How are they coping with the unprecedented upheaval? The Lawyer finds out