The Australian Securities & Investments Commission has launched a consultation on proposals to increase transparency over who ultimately owns or controls entities listed on Australian financial markets, including greater visibility of position building through equity derivative exposures. Consultation Paper 387 proposes a new legislative instrument, a new Substantial Holding Notice, and amendments to Regulatory Guides 5 (Relevant interests and substantial holding notices), 9 (Takeover bids) and 222 (Substantial holding disclosure: Securities lending and prime broking). The proposals are designed to support Schedule 1 of the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025, which broadens disclosure to capture equity derivative interests, strengthens substantial holding and tracing notice regimes, aligns disclosure expectations for foreign-registered entities listed in Australia, and increases penalties for offences under Chapter 6C of the Corporations Act 2001. ASIC also plans technical consequential updates to other guidance and existing instruments that will not be consulted on. Feedback is requested by 5pm AEST on 21 April 2026. The Schedule 1 reforms commence on 4 December 2026.
Australian Securities & Investments Commission 2026-03-10
Australian Securities & Investments Commission consults on enhanced beneficial ownership disclosure for listed entities including equity derivative exposures
The Australian Securities & Investments Commission is consulting on proposals to enhance transparency of ultimate ownership and control of entities listed on Australian markets. Key measures include a new legislative instrument, a Substantial Holding Notice, and amendments to regulatory guides to broaden disclosure of equity derivative interests and strengthen substantial holding regimes. These proposals support the Treasury Laws Amendment Act 2025, aiming to align disclosure expectations and increase penalties for related offences.