The Australian Treasury and the Australian Securities and Investments Commission released draft legislative amendments to implement the proposed central clearing mandate for OTC derivatives in Australia and to provide relief from trade reporting obligations for certain users.
FIA Asia responded to the two consultations, expressing concern about the extraterritorial application of the proposals and urging that the clearing mandate be limited to those transactions that are booked in Australia. FIA Asia also expressed strong support for regulatory recognition and equivalence determinations for overseas CCPs where possible.
The responses can be accessed in Resources to the right.
