Australian Securities & Investments Commission consults on five year remake of four exchange traded derivatives and securities relief instruments

The Australian Securities & Investments Commission has launched a consultation on remaking four legislative instruments that provide relief for exchange-traded derivatives and securities arrangements. The instruments are due to sunset in September and October 2026, and ASIC proposes to renew them for five years with minor amendments that would not change their substantive effect. The package covers relief in four areas. One instrument modifies Product Disclosure Statement requirements for certain exchange-traded derivatives involving both an intermediary and a market participant, so only the market participant must provide a Product Disclosure Statement and the intermediary's disclosure obligations are adjusted. Another preserves targeted exemptions and modifications so securities transferred through New Zealand's FASTER settlement system, now the NZCDC Legal Title Transfer system, are legally recognised in Australia. A third ensures statutory transfer warranties and indemnities apply to shares or debentures of foreign companies quoted on the ASX market. The fourth maintains relief from the substantial holding provisions in Chapter 6C of the Corporations Act for persons engaged in securities lending. ASIC said it considers the instruments to be operating effectively and to remain a necessary and useful part of the legislative framework. Feedback on the proposal is open until 20 July 2026.