Australia’s corporate regulator has proposed an overhaul of the financial-resource guidance that applies to licensed financial-market operators.
ASIC’s consultation would retain the baseline expectation that a licensee hold resources sufficient to cover at least six months of operating expenses. It would clarify how those expenses should be calculated and require operators to assess whether their resources are adequate for recovery or an orderly wind-down. The draft also separates liquidity from capital and would ask operators of significant markets to use scenario analysis and stress testing.
The changes are not yet binding. ASIC is seeking submissions until December 4 and will consider responses before finalising the revised guidance. The exercise reflects the regulator’s view that resilience requirements should account for the scale, complexity and systemic role of different market venues. The consultation page contains the proposal and response timetable.
