ASIC New Client Money Reporting Rules to Commence in April 2018

[kreslik.news]

The Australian Securities and Investments Commission has just issued a new consultation paper directed at forex and CFDs brokers. The regulator is focusing on the new proposed client money rules that holders of Australian Financial Services (AFS) licenses will need to apply for from April 2018.

The providers of ‘derivative retail client money’ will need to implement changes to the ways they are handling client money in accordance with the Corporations Act.


ASIC highlights that the new client money rules will impose record keeping, reconciliation and reporting requirements on AFS licensees that provide forex and CFDs trading.

The ... (read more)