ASIC has released its annual market assessment of Reuters Transaction Services Limited (RTSL).
ASIC has concluded that RTSL has adequate arrangements for the supervision of its market in accordance with the obligations under s792A(c) of the Corporations Act (the Act).
Background
A financial market is defined as a facility through which offers to buy and sell financial products are regularly made. Anyone who operates a financial market in Australia must obtain a licence to do so, or otherwise be exempted by the Minister.
As part of the conditions of granting a licence to operate either a financial market, the licensee must supervise the market in accordance with Part 7.2 of the Act.
Under the Act, ASIC is required to conduct an assessment of the extent to which licensed financial markets are complying with their obligations to supervise their markets. ASIC must do this at least once per year in relation to each licensee. ASIC can also assess how well a licensee is complying with its other obligations under the Act.
In conducting our assessment of this overseas market operation ASIC sought and received information provided from the relevant home regulatory authority about the supervisory arrangements of the market operator to help us in compiling this report.
