ASIC's agenda for market integrity
A speech by Shane Tregillis, Commissioner, Australian Securities and Investments Commission to the 2011 Supreme Court Corporate Law Conference, Sydney, 23 August 2011.
Much has changed in the law, regulation and our public trading markets over the years. The recent volatility in global markets over the last few weeks, high frequency trading, dark pools, competing exchanges are all indicators of the current pace of change. However, despite these changes the fundamental aim of ASIC's market regulation remains the same—that is, to ensure investors can be confident our public trading markets are fair and efficient.
In doing so, ASIC activities in relation to the public trading markets focus upon ensuring three key outcomes:
- the market infrastructure is robust
- trading, clearing and settlement of transactions are orderly and efficient
- opportunities for market misconduct are kept to a minimum.