On 8 February 2023, the Financial Services and the Treasury Bureau (FSTB) launched a consultation on legislative proposals to introduce a licensing regime to regulate providers of over the counter (OTC) trading services for virtual assets (VAs) (the Consultation). The proposed licensing regime will be introduced by amending
ASIC recently undertook a surveillance of the retail OTC derivatives sector, which has an estimated annual turnover of $11 trillion and over 450,000 investors in Australia. ASIC has released Report 579 here in which it identifies sector-wide issues with certain practices, including:
On 2 February 2015, the Australian Securities and Investments Commission (“ASIC”) issued a class exemption which seeks to provide guidance to foreign entities about when they will be regarded as having “entered into” an OTC derivative in Australia for the purposes of the ASIC Derivative Transaction Rules (Reporting) 2013 (“Australian DTRs”), as such OTC derivatives