On 8 October 2015, the Australian Securities and Investments
Commission (ASIC) announced that it has made an in-principle
decision to extend the commencement date of reporting obligations
for phase 3B entities under the ASIC Derivative Transaction
Rules (Reporting) 2013 from 12 October 2015 to 4 December
2015. The extension will provide phase 3B entities with additional
time to prepare for implementation of the last phase of derivatives
trade reporting in Australia. Phase 3B entities are those reporting
entities with less than $5 billion gross notional outstanding OTC
derivative positions, as at 30 June 2014.
ASIC has been monitoring the industry's readiness for
reporting following the September 2015 release by the Australian
Treasury of the single-sided reporting regime under the
Corporations Amendment (Central Clearing and Single-Sided
Reporting) Regulation 2015 (Cth) (Regulation). ASIC is aware
that entities have already revised business decisions as a result
of
