Financial Markets
ASIC extends market relief for exchange-traded derivatives and securities
On 15 September 2026, ASIC announced that, following consultation in CS 56 Proposed remake of exchange-traded derivative and securities-related instruments (CS 56), it has remade three legislative instruments and extended a fourth for five years.
The relief simplifies disclosure, supports trans-Tasman securities settlement and foreign securities transfers, and facilitates securities lending.
The instruments that were due to sunset or expire in September and October 2026 are:
- ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2016/883 (remade to ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2026/682);
- ASIC Corporations (Securities: NZ FASTER System) Instrument 2016/891 (remade to ASIC Corporations (Securities: NZCDC Legal Title Transfer System) Instrument 2026/683);
- ASIC Corporations (Transfers of Division 3 Securities) Instrument 2016/893 (remade to ASIC Corporations (Transfers of Division 3 Securities) Instrument 2026/684); and
- ASIC Corporations (Securities Lending Arrangements) Instrument 2021/821 (extended to ASIC Corporations (Amendment) Instrument 2026/685).
See: Media Release, Instrument 2026/682, Instrument 2026/683, Instrument 2026/684, Instrument 2026/685
ASIC finalises guidance reflecting financial market infrastructure reforms
On 21 September 2026, ASIC published updated regulatory guidance to reflect the financial market infrastructure (FMI) reforms that came into effect in September 2024.
The updates apply to:
- Regulatory Guide 172 Financial markets: Domestic and overseas operators (RG 172);
- Regulatory Guide 249 Derivative trade repositories (RG 249); and
- Regulatory Guide 268 Licensing regime for financial benchmark administrators (RG 268).
The updates come following consultation through CS 50 Proposed updates to RG 172, RG 249 and RG 268 (CS 50). ASIC made only minor editorial amendments to RG 172 for clarity and consistency. RG 249 and RG 268 are unchanged from the versions released for consultation.
See: Media Release, RG 172, RG 249, RG 268, CS 50
RBA releases 2026 Assessment of the ASX Clearing and Settlement Facilities
On 23 September 2026, the RBA released its 2026 Assessment of the ASX Clearing and Settlement (CS) Facilities, assessing the performance of ASX's four CS facilities against the RBA's Financial Stability Standards.
Key findings include:
- The ASX CS facilities were rated as having "observed" or "broadly observed" many of the individual Standards.
- One or more CS facilities "partly observed" the requirements under the Standards on Governance, Framework for Comprehensive Management of Risks, Credit Risk, and Operational Risk.
- ASX established a Transformation Portfolio to address longstanding shortfalls in governance, capability, culture and risk management. The RBA has set clear expectations over target outcomes.
- Following the December 2024 batch settlement incident, ASX strengthened CHESS resourcing and contingency arrangements, resulting in an upgrade from "not observed" to "partly observed" against the Operational Risk Standard for ASX Clear and ASX Settlement.
The RBA noted that despite progress during the year, ASX is still not meeting RBA expectations in several important areas.
See: Media Release, 2026 Assessment of the ASX Clearing and Settlement Facilities
ASIC announces amendments to the Market Integrity Rules
On 24 September 2026, ASIC announced amendments to the ASIC Market Integrity Rules (Securities Markets) 2017 and the ASIC Market Integrity Rules (Futures Markets) 2017 to strengthen safeguards for automated and AI-enabled trading while streamlining regulatory requirements for market participants.
The amendments, which come following feedback to Consultation Paper 386 and will take effect on 18 March 2028 after an 18-month transition period, seek to:
- modernise trading systems obligations to reflect current trading practices, technology and risks including algorithmic trading, AI and machine learning;
- align ASIC’s market integrity rules with IOSCO principles and international standards on algorithmic trading;
- apply trading system requirements consistently to manually entered and automated orders;
- set more consistent standards for securities and futures market participants;
- clarify the scope of the false or misleading rule including where AI-enabled or other trading activity has the effect of creating a false or misleading appearance; and
- clarify and streamline the MIRs by removing redundant or overly prescriptive obligations.
ASIC also released a consultation on proposed updates to Regulatory Guide 265 Guidance on ASIC market integrity rules for participants of securities markets (RG 265) and Regulatory Guide 266 Guidance on ASIC market integrity rules for participants of futures markets (RG 266).
The proposed updates will:
- reflect the amendments to the amended ASIC Market Integrity Rules (Securities Markets) 2017 and the ASIC Market Integrity Rules (Futures Markets) 2017;
- incorporate relevant guidance from Regulatory Guide 241 Electronic Trading into RG 265 and RG 266, allowing RG 241 to be retired; and
- align guidance between RG 265 and RG 266.
Feedback on the proposed guidance updates is due by 5 November 2026.
See: Media Release, Consultation Paper, Draft updated RG 265, Draft updated RG 266, Our article
Funds management
Government seeks feedback on enhanced data collection for MIS
On 23 September 2026, Treasury released a consultation paper on enhanced data collection for managed investment schemes (MIS), seeking feedback on proposals to address data gaps that have emerged as the sector has grown.
The consultation outlines three broad proposals:
- enhancing the information collected when a MIS is registered;
- introducing a recurring data collection for registered MIS; and
- improving visibility of the unregistered MIS sector, which is not subject to the same level of data collection.
The consultation also seeks views on opportunities to rationalise existing collections and reduce compliance burden over time.
Feedback is requested by 23 October 2026.
See: Media Release, Consultation Paper
Other
ASIC seeks feedback on future access to information on companies register
On 11 September 2026, ASIC released Consultation Paper 391 seeking feedback on what information on the companies register should be made available in the future, and who should have access.
The proposed settings would keep core company information broadly available while restricting sensitive personal information to verified users who have a clear need for it.
From 1 July 2027, the following settings will be in place:
- officeholders’ year of birth, residential locality and service address would be available to all registry users; and
- residential address and birth information would be restricted to certain business users.
A transition period will be in place until 1 August 2028, during which companies can update officeholders’ service addresses so that their residential addresses remain restricted.
Feedback is due by 12 October 2026.
See: Media Release, Consultation Paper 391
Authors: Jonathan Gordon, Partner; Corey McHattan, Partner; Samantha Carroll, Partner; Hong-Viet Nguyen, Partner and Charlotte Ekins, Graduate.
