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In this Funds Update for 1 May 2026:
ASIC consults on regulatory guide updates to implement financial market infrastructure reforms
On 20 April 2026, ASIC opened a consultation on proposed updates to three regulatory guides in order to implement the Government’s financial market infrastructure (FMI) reforms. ASIC is seeking feedback from industry and interested stakeholders on updates to:
- Regulatory Guide 172 Financial markets: Domestic and overseas operators (RG 172);
- Regulatory Guide 249 Derivative trade repositories (RG 249); and
- Regulatory Guide 268 Licensing regime for financial benchmark administrators (RG 268).
The proposed updates respond to legislative changes introduced by the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 (Cth) and are intended to align with the framework established by these FMI reforms by:
- strengthening ASIC’s licensing, supervisory and enforcement powers over FMI licensees;
- reallocating certain powers between the Minister and ASIC; and
- enhancing ASIC powers over foreign entities operating FMIs with a significant Australian nexus to ensure they are subject to appropriate oversight.
Submissions to ASIC close on 25 May 2026.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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