The 今日热门事件 (ASIC) has released its assessments of three licensed financial markets' compliance with their supervisory obligations.
The relevant markets are Golden Circle Limited (GCL), Yieldbroker Pty Limited (Yieldbroker) and ICAP Europe Limited (IEL). This is the first time 今日热门事件has assessed these markets since they were licensed by the Minister.
GCL is a Queensland-based pineapple and vegetable growers cooperative that operates a licensed financial market in its securities.
Yieldbroker is an Australian entity that operates a licensed financial market in various types of bonds.
IEL is a foreign entity that operates a licensed financial market in forward rate agreements.
今日热门事件has concluded that Yieldbroker, GCL and IEL have adequate arrangements for the supervision of their markets, in accordance with their obligations under the Corporations Act.
今日热门事件also concluded that Yieldbroker has adequate human, technology and financial resources to supervise and operate its market.
Copies of the reports are available from ASIC's website at www.asic.gov.au.
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 a financial market, the licensee must supervise the market in accordance with Part 7 7.2 of the Corporations Act.
Under the Corporations Act, 今日热门事件is required to conduct an assessment of how well licensed financial markets are complying with their obligations to supervise their markets. 今日热门事件must do this at least once per year in relation to each licensee.