25 October, 2015
Extension of commencement date for phase 3B entities
ASIC has today announced an extension of the commencement date for phase 3B entity reporting under the ASIC Derivative Transaction Rules (Reporting) 2013 (Rules) to 4 December 2015.
Under the terms of previous relief, phase 3B entities had been due to commence reporting under the Rules on 12 October 2015. However, ASIC has been monitoring industry's readiness to meet their obligations, and in light of the recently released regulations on single-sided reporting, has made an in-principle decision to extend the commencement date for reporting to 4 December 2015. This means that phase 3B entities will not be required to comply with their reporting obligations under the Rules until this time.
The extension will be welcomed by phase 3B entities who are still finalising their arrangements with respect to trade reporting, including in particular whether or not they can rely on single-sided reporting or whether to establish other arrangements, such as delegated reporting.
The extension does not preclude those phase 3B entities who are ready, from commencing reporting on 12 October 2015.
For further information, please contact:
Astrid Raetze, Partner, Baker & McKenzie
astrid.raetze@bakermckenzie.com
