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ARTICLE · 26 JULY 2010

Market Supervision Transferring To ASIC

Truman Hoyle
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On 1 August 2010, Australian Securities and Investments Commission ("ASIC:) will take over from the Australian Securities Exchange ("ASX") the market supervision role. ASIC has released its Regulatory Guide 214: Guidance on ASIC Market Integrity Rules for ASX and ASX 24 Markets, and the new ASIC Market Integrity Rules ("MIRs").

AustraliaCorporate/Commercial Law
Keren Wadling
Keren Wadling

Background

On 1 August 2010, Australian Securities and Investments Commission ("ASIC") will take over from the Australian Securities Exchange ("ASX") the market supervision role.

ASIC has released its Regulatory Guide 214: Guidance on ASIC Market Integrity Rules for ASX and ASX 24 Markets, and the new ASIC Market Integrity Rules ("MIRs").

In the coming weeks ASIC will issue in-principle MIRs for the National Stock Exchange of Australia, SIM Venture Securities Exchange (previously known as the Bendigo Stock Exchange), Asia Pacific Exchange Limited, and IMB Ltd.

All listed companies, and any planning to list, need to ensure now that they are ready for increased interaction with ASIC, and for a ramping up by ASIC in surveillance of market misconduct indicators.

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