ASIC Consults On Red Tape Reduction Proposals For ASIC Market Integrity Rules
Consultation Paper 222 Reducing red tape: Proposed amendments to the market integrity rules (CP 222) sets out ASIC’s proposals to remove or refine market integrity rules that:
These market integrity rules apply (variously) across the ASX, Chi-X, APX, NSXA and SIM VSE markets.
ASIC assumed responsibility for market supervision in 2010. The market integrity rules made at that time are based generally on operating rules previously in force and made by ASX and other market operators.
ASIC is working on a project to harmonise the relevant market integrity rules across exchanges in Australia. The project includes identifying rules that impose an unnecessary compliance burden on market participants. This consultation forms an initial part of the project.
ASIC Commissioner Cathie Armour said, ‘It is an appropriate time to review the ongoing relevance and regulatory burden of certain categories of market integrity rules that were based on pre-existing obligations.
‘ASIC welcomes feedback on any additional deregulatory proposals you may have in relation to ASIC’s market integrity rules’.
The deadline for submissions to CP 222 is Thursday, 2 October 2014.