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.
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.
Globally there are a host of foreign exchange brokers which allow their customers to move currency to and from different countries and currencies. These companies are subject to different requirements based on the jurisdiction where they are based and the role they play in the market.
To date there has been no definitive position provided by either the regulation or ASIC guidance about the reportability of crypto.
Daylight saving time is here and so are our tips on how to ensure the time settings in your trade/transaction reporting are correct.
We regularly find firms are either misreporting or not at all reporting their liquidity provider (LP)/hedge trades.
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).
U.S. President Joe Biden signed an executive order on 9 March 2022 to direct federal agencies to examine potential regulatory changes as well as the risks and benefits posed by cryptocurrencies.
ASIC introduced a product intervention order (Order) in October 2020, imposing restrictions on the issue and distribution of contracts for difference (CFDs) to retail investors. This decision came after the regulator’s finding that CFDs have resulted in, and are likely to result in, significant detriment to retail investors.
