Australia: IOSCO Objectives and Principles of Securities Regulation—Detailed Assessment of Implementation
IMF Staff Country Reports, November 21, 2012
Source details
- Canonical URL
- Australia: IOSCO Objectives and Principles of Securities Regulation—Detailed Assessment of Implementation
Other formats
Bibliographic details
- Published: November 21, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475563412.002
Major findings
- The Australian legal and regulatory framework for securities markets exhibits a high level of compliance with the International Organization of Securities Commissions (IOSCO) Principles.
- A few remaining concerns need to be resolved, including some identified in the 2006 assessment.
- Australian Securities and Investments Commission’s (ASIC) operational independence and sufficiency of resources are overarching concerns which impair its ability to discharge its supervisory functions adequately and effectively across the entire regulated population.
Key concerns and policy implications
- ASIC operational independence:
- Identified as an overarching concern affecting supervisory effectiveness.
- ASIC sufficiency of resources:
- Resource shortfalls impair ASIC’s ability to supervise the entire regulated population adequately and effectively.
- Legacy issues:
- Some concerns trace back to the 2006 assessment and remain unresolved.
Subjects and thematic scope
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Auditing
- Crime
- Financial institutions
- Financial services
- Hedge funds
- Public financial management (PFM)
- Securities
Keywords extracted from the content
- AFSL holder
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- ASIC staff
- Auditing
- Australia and New Zealand
- capital requirement
- conduct ASIC
- CR
- financial market
- Global
- hedge fund
- Hedge funds
- insider trading
- integrity rule
- investment scheme
- investments commission
- IOSCO principle
- ISCR
- market intermediary
- market operator
- market participant
- pty ltd
- public company
- Securities
- short position
- stakeholder team
Publication and document statistics
- Publication type: IMF Staff Country Reports
- Publication date: November 21, 2012
- Pages: 153
- Volume: 2012
- Issue: 314
- Series: Country Report No. 2012/314
- DOI: https://doi.org/10.5089/9781475563412.002
- Stock No: 1AUSEA2012008
- ISBN: 9781475563412
- ISSN: 1934-7685
Source: IMF Staff Country Report — Australia: IOSCO Objectives and Principles of Securities Regulation—Detailed Assessment of Implementation (November 21, 2012).
Content in this bundle
- _cr12314 — IMF FSAP assessment excerpts on Australia’s securities markets and ASIC