Competition in the provision of clearing and settlement services – ministerial instruments

4 days left to have your say
Date
-
Consultation Type
Exposure Draft Regulations

Key Documents

Under section 828A of the Corporations Act 2001, the Australian Securities and Investments Commission (ASIC) may make clearing and settlement services (CS services) rules imposing requirements dealing with the activities, conduct and governance arrangements of CS facility licensees and associated entities, in relation to determined CS services. Determined CS services are those covered by a Ministerial determination made under section 828B.

Part XICB of the Competition and Consumer Act 2010 (CCA) provides for an arbitration regime for persons seeking access to CS services. Under Part XICB the arbitration regime is only open to access seekers seeking access to a declared CS service. Declared CS services are those covered by Ministerial declarations made under 153ZEF.

The Corporations and Competition (CS Services) Instrument 2024 specifies the classes of CS services in relation to which ASIC may impose requirements under the CS services rules, and the declared CS services to which access may be the subject of negotiations or arbitration under Part XICB of the CCA.

Treasury invites feedback from stakeholders on the proposed definition of ‘cash equities’ contained in this Instrument, and on whether there is, in their view, competition in any of the CS services proposed to be covered by the draft instrument – that is, those covered by the proposed cash equity definition.

Responding

You can submit responses to this consultation up until 01 March 2024. Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

View our submission guidelines for further information.

How To Respond

Email

cics@treasury.gov.au

Post

Address written submissions to:

Regulators and Capital Markets Branch
Financial System Division
Treasury
Langton Cres
Parkes ACT 2600

Enquiries

Email: cics@treasury.gov.au