One of ASIC’s goals is to align the Australian reporting regime with international standards. Harmonising the data collected according to the critical data elements introduced in the CDE Guidance aims to improve data quality for sharing between regulators globally.
Under the Australian Securities and Investments Commission’s (ASIC) Regulatory Guide (RG) 251, reporting entities are required to make regular enquiries of their reporting delegate.
Daylight saving time is here and so are our tips on how to ensure the time settings in your trade/transaction reporting are correct.
Are you reporting trades by New York (NY) time or following NY close of business? If so, it is important to check your trades/transactions are still reported at the correct time now that daylight saving time (DST) has started in the US (13 March 2022).
From 21 October 2024, only LEIs can be used in ASIC’s derivative reporting. The final version of the rules have been released and require that a Legal Entity Identifier (LEI) is the only allowable entity identifier for all eligible relevant entities.
Public holidays and bank holidays can have a major impact on trade and transaction reporting requirements; especially if you are an entity operating under multiple regimes.
When there is a public holiday where the regulatory body (or regulated entity) is located, it is likely that the timing of report submissions will be extended commensurately.
Under ASIC’s Reporting Rules, most Australian margin FX and CFD brokers are Reporting Entities that are required to report their transactions as they are considered to be over-the-counter (OTC) derivatives.
We take a look at what a trade repository or ASIC can surmise about your business from the data they receive.
ASIC is stepping closer to its final version of reform to its reporting requirements for derivative transactions. Further details of their proposals have been outlined in ASIC’s second Consultation Paper (CP) Proposed Changes to simplify the ASIC Derivative Transaction Rules (Reporting) 2013, incorporating further changes after its first round of consultation released in November 2020.
