International Law

ASIC guidance on regulation of clearing and settlement facilities

By David Jacobson

ASIC has released Regulatory Guide 211 Clearing and settlement facilities: Australian and overseas operators (RG 211) on its approach to the licensing and regulation of clearing and settlement (CS) facilities.

It responds to international regulatory developments promoting the use of central counterparty (CCP) clearing and settlement of over-the-counter (OTC) derivative transactions.

RG 211 provides guidance on:

• when an Australian CS facility licence will be required;
• how to apply for a CS facility licence; and
• ASIC’s approach to exemptions.

Full post as published by Australian Regulatory Compliance Review on April 21, 2010 (boomark / email).

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