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July 25, 2012

Treasury consults on derivatives regulation

Treasury has released a draft of the Corporations Legislation Amendment (Derivatives Transactions) Bill 2012.

The legislation would amend the Corporations Act by introducing a framework to allow the Minister for Financial Services and Superannuation to decide that mandatory obligations should apply to certain classes of over-the-counter (OTC) derivatives, requiring those classes to be reported, centrally cleared, or traded on suitable trading platforms.

Regulations and rules would be made to specify the details of these obligations.

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Posted 25th July 2012 by David Jacobson in Corporations Act, Financial Services