Define 'exceptional circumstances' if ASIC is to make listing rules

The Australian Council of Financial Regulators has responded to CSA's concerns that giving ASIC the power to make listing rules is a very broad power indeed it has recommended in relation to reform of financial market infrastructure that the power be confined to 'exceptional circumstances'. CSA agrees that the power needs to be limited. A regulator's role is inherently different from that of a market operator ASIC may not always appreciate the practical consequences of its proposals and actions, which only a consultation process can illuminate ... READ MORE

Released by CSA News Update - 9 May 2012