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Data Alert: Reforms to the Supervision of Australia's Financial Markets

28 August 2009

The Federal Government on 24 August 2009 announced changes to the supervision of Australia’s financial markets – transferring the role of market supervisor to the Australian Securities and Investments Commission (ASIC) from the Australian Securities Exchange (ASX).

The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, noted that “the reform is in line with the move towards centralised or independent regulation in other leading jurisdictions.” 

The reform will enhance the integrity of Australia’s financial markets and take another step forward to strengthen Australia’s position as a financial services hub in the Asia-Pacific region.

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