List of Recommendations


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List of Recommendations

Recommendation 1

1.129         The committee recommends that Treasury and the Australian Securities and Investments Commission update the committee on Australia's implementation of over‑the-counter (OTC) derivatives market reforms. This could take the form of a report one month after the release of the sixth Financial Stability Board implementation progress report (which is expected to be released in October 2013). The report could cover:

  • Australia's progress in implementing the framework established by the Corporations Legislation Amendment (Derivative Transactions) Act 2012;
  • an assessment of how Australia's progress in implementing OTC derivatives market reforms compares to international efforts; and
  • advice on any further reforms required to implement Australia's G20 commitments in relation to OTC derivatives.

Recommendation 2

1.130         The committee recommends that the bill be passed.

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