On 20 September 2023, the Australian Securities and Investments Commission (ASIC) issued Infringement Notice MDP05/23 to a particular market participant for alleged contraventions under Part 7.2A.04 of the Corporations Regulations 2001. The notice addressed concerns about a client’s trading behaviour. Activity considered suspicious occurred during the Closing Single Price Auction (CSPA) between March and November [...]
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In May 2023, the Australian Securities and Investments Commission (ASIC) released Issue 148 of its Market Integrity Update. The publication includes important information for market participants, including guidance for assessing cyber capabilities, reports on criminal sentences throughout the industry and — perhaps most importantly — a look at the updated market integrity rules penalty regime. [...]
As the financial services landscape grows more intricate and new market entrants disrupt long-held conventions, the challenges of compliance become particularly noticeable. Varying interpretations and fast-changing requirements complicate an already-stringent regulatory environment. Australian financial organisations are left scrambling to play by the rules — all without jeopardising the processes that keep them afloat in a [...]