International Law

ASIC?s markets supervisory powers

By David Jacobson

ASIC has updated Regulatory Guide 98 Licensing: Administrative action against financial services providers (RG 98) to include additional sections on ASIC?s new powers to supervise market participants. For AFS licensees who are market participants - in addition to the general remedies - ASIC may also ask the Markets Disciplinary Panel (MDP) to issue an infringement notice.

Compliance with an infringement notice may involve the payment of a penalty, undertaking remedial measures, accepting sanctions or entering into an enforceable undertaking.

Full post as published by Australian Regulatory Compliance Review on November 18, 2010 (boomark / email).