Announcement date
22 September 2023
Link to announcement
ASIC Derivative Trade Repository Rules 2023
Problem being addressed
ASIC Derivative Trade Repository Rules 2013 were scheduled to sunset on 1 October 2023.
Proposal
Remake the ASIC Derivative Trade Repository Rules 2013 under 903A(1) of the Corporations Act 2001 (the Act) in substantially the same form to continue the operation of the existing requirements for a further ten-year period.
In addition, we are proposing
- a new subrule which would allow ASIC to direct a licensed Australian derivative trade repository (ADTR) to update its records in limited circumstances such as where a reporting entity has gone into administration and is unable to maintain its reported data
- update public reporting requirements to remove the geographic location of the underlier category
- minor and administrative updates.
Assessed Impact Analysis outcome
Sunsetting instrument
Assessment comments
Consistent with the Australian Government Guide to Policy Impact Analysis requirements for sunsetting instruments, ASIC has, after consultation with stakeholders, assessed the instruments as operating effectively and efficiently. Therefore, a detailed Impact Analysis is not required.
Regulatory burden
No change in regulatory costs.