Asic hopeful of receiving substituted compliance from CFTC

Australian securities regulator positive about receiving US approval for the domestic regulatory regime


Australia is hopeful that a recent positive equivalence determination from the European Securities and Markets Authority (Esma) for its central counterparty regulatory regime will be followed by approval from the Commodity Futures Trading Commission (CFTC), reducing compliance costs for domestic banks, according to Cathie Armour, commissioner at the Australian Securities and Investments Commission (Asic).

Armour said the regulator's role was to implement commitments by the Group of 20 (G-20) to

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