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ASIC to review broker capital rules: report | News on Astini News

The Australian Securities and Investments Commission (ASIC) is planning to review the capital rules governing brokers who use other firms to clear their clients share trades, in a move that may result in those traders having to lift their capital holdings, according to a report by the Australian Financial Review.

Such a move would likely strain the weakened broking industry, but ASIC had expressed reservations about the pillar within the broking industry that allowed those that outsource some of their back-office functions to hold less capital than full-service firms.

The review comes as ASIC takes control of supervision over some brokers from the Australian Securities Exchange, according to the AFR.

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