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Finance Broking Australia-regulatory guide 222

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Regulatory Guide 222 - Substantial holding disclosure: Securities lending and prime broking CPD

This regulatory guide is for persons who engage in securities lending and prime broking activities.

It:
•   Seeks to improve disclosure of substantial holdings that may arise from participation in securities lending or prime broking;
•   Explains how the concept of relevant interests in s608 and 609 and the substantial holding disclosure requirements in s671B of the Corporations Act 2001 (Corporations Act) apply to securities lending and prime broking; and
•   Explains how ASIC has modified the substantial holdings disclosure requirements for securities lending and prime broking to allow improved compliance with the requirements and facilitate better disclosure of useful information to the market within the required time frames.

Disclosure of substantial holdings under s671B is important for an informed market in quoted securities.

Relevant interests arising from securities lending transactions and prime broking arrangements are important in assessing whether a person has a substantial holding that requires notification.

Disclosure of substantial holdings acquired through securities lending and prime broking arrangements promotes an efficient, competitive and informed market in quoted securities.

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