Tag: Australia
Aussie IM Phase 4 double whammy
Opinions obviously vary, but for me there are very few opportunities to be glad not to be Australian. Here is one for already punch-drunk IM lawyers and compliance personnel. The largest four banks in New Zealand are Australian-owned- ANZ, ASB, BNZ and Westpac. New Zealand is not a G20 member and has therefore been (relatively) […]
US, HK and OZ join the MIFID 2 circle of trust
In another last-minute MiFID 2 fix, the EC yesterday adopted decisions recognising the equivalent status of securities exchanges in Australia, Hong Kong and the US. “It is important that European firms can trade shares on international markets. Access to major international trading venues will boost the EU’s competitive position as a financial center,” the EU executive’s vice […]
ESMA recognises 10 Third-Country CCPs
ESMA has today recognised ten third-country CCPs as authorised to offer services and activities in the Union. Each CCP comes from four jurisdictions previously assessed as equivalent by the EC. The full list includes the classes of financial instruments covered by the recognition. A short summary follows: Australia: ASX Clear (Futures) Pty Limited, ASX Clear […]
Australia to get Dodd-Frank Thumbs Up
Risk Magazine is reporting the Australia is set to get positive approval from the CFTC for the purposes of substituted compliance, enabling Australian firms to follow local rules in order to comply with the Dodd-Frank Act. According to the article, specific areas where approval is expected include: internal and external business conduct; capital requirements; trade […]