ASIC has today released a series of updates to improve and simplify its regulatory guidance on complying with technological and operational resilience rules for market participants and market operators.

Resilient market participants and market operators are essential to the integrity of our securities and futures markets and to the efficient functioning of the economy.

The updates are the third stage of ASIC’s work to review and clarify guidance relating to Chapters 8A and 8B of the ASIC Market Integrity Rules (Securities Markets) 2017 and the ASIC Market Integrity Rules (Futures Markets) 2017 (Resilience Rules) set out in:

• Regulatory Guide 265 Guidance on ASIC market integrity rules for participants of securities markets (RG 265)
• Regulatory Guide 266 Guidance on ASIC market integrity rules for participants of futures markets (RG 266), and
• Regulatory Guide 172 Financial markets: Domestic and overseas operators (RG 172).

The updates align with ASIC’s commitment to regulatory simplification and include changes to reduce repetition and the length of guidance, as well as structural improvements. Further, the updates:

• incorporate guidance on arrangements for identifying critical business services previously shared in September 2024 in a letter to participants
• give certainty that critical business services arrangements may leverage existing resilience frameworks, including service provider’s business continuity plans and redundancy arrangements for outsourcing arrangements, where suitable
• confirm that, in some situations, full redundancy arrangements may not be required for all critical business services
• clarify thresholds for identifying and reporting major events to ASIC
• remove referenced to superseded APRA standards and guidance.

The updates also incorporate class waivers ASIC granted in August 2025 to provide relief from some requirements for outsourcing arrangements where supply of energy or communications services were identified as critical business services.

Background

ASIC is committed to strengthening operational, digital and data resilience and safety, as highlighted as one of its strategic priorities for 2025-26.

ASIC is conducting an inquiry into the ASX group, led by a panel of experts, focusing on governance, capability and risk management frameworks and practices. The panel will make recommendations to address any shortcomings or deficiencies identified and ASIC will publish a report on the outcome of the inquiry by March 2026. For more information about the scope of the Inquiry, refer to the Terms of Reference.

While the ASX Inquiry (Inquiry) is underway, it is critical ASX continues to prioritise the safe and efficient operation of its infrastructure, including progress towards Release 1 of the CHESS replacement project by mid-2026. ASIC will continue to closely monitor this project, and ASX more broadly. The expert technical review of CHESS, that ASIC announced on 31 March 2025, will continue alongside the Inquiry. ASIC will also continue work to implement financial market infrastructure reforms, consulting on updated guidance in 2026.

The Resilience Rules, which came into effect on 10 March 2023, aim to promote the technological and operational resilience of market participants and market operators.

As a first step in ASIC’s review of its guidance on the Resilience Rules, revisions were made in May 2024 to correct minor drafting errors in RG 265, RG 266 and RG 172. These changes addressed confusion around the identification of critical business services and clarified the meaning of ‘immediately’ when notifying ASIC of a major event.

As a second step, ASIC published a letter to market participants to share observations and guidance from a 2023 thematic review conducted of market participants’ arrangements for identifying critical business services and dealing with a major event.

ASIC’s third step makes further updates to improve and simply its guidance on complying with the Resilience Rules, following further engagement with market participants and industry bodies.

Related links

• Regulatory Guide 172 Financial markets: Domestic and overseas operators (RG 172)
• Regulatory Guide 265 Guidance on ASIC market integrity rules for participants of securities markets (RG 265)
• Regulatory Guide 266 Guidance on ASIC market integrity rules for participants of futures markets (RG 266)
• ASIC Market Integrity Rules (Securities Markets) Class Waiver 2025/512
• ASIC Market Integrity Rules (Futures Markets) Class Waiver 2025/513

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