ASIC consults on agent lenders role in securities lending
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ASIC consults on agent lenders role in securities lending 29 July 2019Sydney Reporter: Maddie Saghir
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The Australian Securities and Investments Commission (ASIC) is consulting on the role played by agent lenders in securities lending and the market’s view of any exemption from substantial holding disclosure.
This follows the ASIC’s publication of
“Consultation Paper CP 319” on securities lending by agents and subsequent disclosure of a substantial holding in a listed entity.
Meanwhile, the ASIC seeks feedback on proposed legislative relief that aims to improve substantial holding disclosure by these intermediaries, while also reducing red tape.
Danielle Press, ASIC commissioner, commented: “Our focus is on ensuring the market has adequate information on substantial holdings in listed entities, including substantial holdings that are derived from securities lending transactions.”
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