On 22 April 2016, Assistant Treasurer Kelly O'Dwyer delegated some of her powers to ASIC relating to financial market and clearing and settlement facility licensing, operating rules and compensation arrangements (see media release). Read the current instrument.
In exercising the delegated powers, ASIC delegates will have regard to:
the matters the Minister is required to consider under chapter 7 of the Corporations Act 2001;
Determined matters during the period 1 July to 30 September 2023
Entity
Matter type
Corporations Act (delegated power)
Description
Legislated timeframes
FEX Global Pty Ltd
Changes to operating rules
s793E
Change of Price Reporting Agency for Iron Ore contract
28 days
Refinitiv (SEF) LLC
Overseas AML application
s795B(2)
Application for an overseas Australian market licence to provide an electronic platform for the trading of NDFs and FX options.
N/A
SwapEx LLC
AML cancellation
797B
SwapEx notified ASIC in its 792F report that it intends to seek deregistration as a SEF following planned cessation of trading on 29 September 2023 and cease operating in Australia on the same date.
N/A
Yieldbroker Pty Limited
AML Variation
s796A(2)(b)
AML variation in relation to Yieldbroker's RMO status in Singapore and aligning/updating conditions with other AMLs.
N/A
Cboe SEF, LLC
Overseas AML application
s795B(2)
Application for an overseas Australian market licence to provide an electronic platform for the trading of FX NDFs.
N/A
Yieldbroker Pty Limited
Changes to operating rules
s793E
Rule changes to incorporate Singapore activities as a Recognised Market Operator
28 days
Determined matters during the period 1 April to 30 June 2023
Entity
Matter type
Corporations Act (delegated power)
Description
Legislated timeframes
Canvas Digital Pty Ltd
AML Exemption
s791C(1)
Exemption from requirement to hold an Australian market licence
N/A
Canvas Digital Pty Ltd
AML Exemption variation
s791C(2)
The Corporations (Canvas Digital Pty Ltd) Australian Market Licence Exemption Notice 2023 is varied to extend the repeal date of 31 July 2023
N/A
PO Capital Markets Pty Ltd
Domestic AML Application
s795B(1)
Application for a domestic Australian market licence to provide an electronic platform for the trading of interest rate derivatives.
N/A
BrokerTec Europe Limited
Revocation of AML Exemption
s791C(2)
Revocation of the Corporations (BrokerTec Europe Limited) Exemption Notice 2015.
N/A
ASIC's role in advising the Minister/delegate on matters
The delegation arrangements will speed up the process for obtaining regulatory approvals. It does not otherwise change the way ASIC engages with stakeholders and the matters that ASIC considers in preparing its advice to the Minister (or delegate). For example, ASIC, in its advisory function, will continue to have regard to:
the requirements in the Corporations Act;
ASIC's strategic objectives;
advice from other government agencies (including the Reserve Bank of Australia);
international developments; and
the nature and extent of the public consultation process undertaken in relation to a matter and the feedback provided from that process.
