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ARTICLE · 15 FEBRUARY 2025

ASIC's updated Schedule 1 Technical Guidance – Point to note

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The Technical Guidance is complementary to the updated ASIC RG 251 (Derivative Transaction Reporting).

AustraliaCorporate/Commercial Law
Sophie Gerber
Sophie Gerber
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ASIC has published an update (version 1.1) to its Schedule 1 Technical Guidance (Technical Guidance). The Technical Guidance is complementary to the updated ASIC RG 251 (Derivative Transaction Reporting) and reporting entities should use both resources to assist in understanding the reporting requirements given the changes made to the ASIC Derivative Transaction Rules (Reporting) 2024 which came into effect 21 October 2024.

Given the feedback that was received in response to version 1.0 of the Technical Guidance, some changes and additions have been made to version 1.1.

We summarise these below:

1) Schedule 1 – Technical Guidance

  • Accuracy of a UPI: ASIC have clarified that 'obtaining a UPI' includes the process of requesting a UPI be created where it is capable of being done in the UPI service – those who transact in a product with a 'new' UPI (and where their counterparty or another entity does not create that 'new' UPI) are to create this so as to comply

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