ASIC finalises guidance reflecting financial market infrastructure reforms

ASIC has published updated regulatory guidance to assist financial market infrastructure operators to comply with the enhanced regulatory framework in line with the Government’s financial market infrastructure (FMI) reforms.

The updates apply to:

  • Regulatory Guide 172 Financial markets: Domestic and overseas operators (RG 172)
  • Regulatory Guide 249 Derivative trade repositories (RG 249), and
  • Regulatory Guide 268 Licensing regime for financial benchmark administrators (RG 268).

ASIC consulted on the proposed updates through CS 50 Proposed updates to RG 172, RG 249 and RG 268 (CS 50), which was released on 20 April 2026 and closed on 25 May 2026.

Two non-confidential submissions were received in response to the simple consultation of these changes.

ASIC made only minor editorial amendments to RG 172 for clarity and consistency with other ASIC guidance. No substantive changes were made.

RG 249 and RG 268 are unchanged from the versions released for consultation.

These regulatory guide updates respond to reforms introduced by the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024, which commenced in September 2024 (24-208MR).

Regulated entities are encouraged to review the updated guidance and consider any impacts for their business and operations.

Background

ASIC published CS 50 on 20 April 2026, with submissions due by 25 May 2026.

Regulatory Guide 211 Clearing and settlement facilities: Australian and overseas operators (RG 211) will be reviewed separately. RG 211 currently notes that it does not reflect amendments introduced by the FMI reforms and will be reviewed and updated in due course.

FMIs are the key entities that enable, facilitate, and support trading in Australia’s capital markets. FMIs include financial market operators, benchmark administrators, clearing and settlement (CS) facilities, and derivative trade repositories.

ASIC has been working to implement the FMI regulatory reforms as contained in the Act, including developing its approach to administering the updates to the licensing regime and ASIC’s new supervisory and enforcement powers.

ASIC is Australia’s corporate, markets and financial services regulator.