CP 186 Clearing and settlement facilities - International principles and cross border policy update to RG 211

Released 11 September 2012. Comments close 19 October 2012.

This consultation paper sets out our proposals to amend the existing Regulatory Guide 211 Clearing and settlement facilities: Australian and overseas operators (RG 211) to:

• adopt the Principles for financial market infrastructures (Principles) for clearing and settlement (CS) facilities to the extent possible in our jurisdiction. The Principles were recently released by the Committee on Payment and Settlement Systems of the Bank for International Settlements (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO); and
• provide certainty and transparency on how we intend to put in place measures and update our existing guidance to ensure there is appropriate regulatory influence over cross-border CS facilities, as envisaged under the Council of Financial Regulators’ (the Council) framework described in its paper Ensuring appropriate influence for Australian regulators over cross-Border clearing and settlement facilities.

Download the paper (PDF 301KB) | Attachment to CP 186 (Draft RG 211) | Read the media release