Asic temporarily exempts Australian banks from non-CFTC trade reporting requirements
Australian industry needs additional time to set up trade reporting infrastructure
The Australian Securities and Investments Commission's (Asic) October 1 deadline for reporting derivatives transactions for the country's five largest banks was only met after the regulator granted temporary exemptions from complying with Australia-specific rules.
Asic released its final rules on reporting derivatives transactions to a prescribed trade repository on July 9 this year. According to the rules, Australian banks registered or provisionally registered as swap dealers with the US
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