I, Molly Choucair, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.Date 11 September 2026Molly ChoucairContentsPart 1—Preliminary 31 Name of legislative instrument....................................32 Commencement...............................................33 Authority....................................................34 Schedules....................................................35 Simplified outline of this instrument...............................36 Definitions...................................................3Part 2—Exemption 47 Records of instructions to deal on foreign markets....................4Part 3—Repeal 58 Repeal.......................................................5Schedule 1—Repeals 6ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889 6
This instrument commences on the day after it is registered on the Federal Register of Legislation.Note: The register may be accessed at www.legislation.gov.au.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Regulation 7.8.19 of the Regulations requires a financial services licensee to keep records of instructions it receives to deal in financial products through financial markets.This instrument exempts a financial services licensee from complying with the record keeping requirements for an instruction that is given by an offshore wholesale client and that relates to a dealing through a financial market that is not operated in this jurisdiction.
A financial services licensee does not have comply with regulation 7.8.19 of the Regulations in relation to an instruction to deal in financial products received by the licensee to which both of the following apply:(a) the instruction is from or on behalf of a wholesale client who is not in this jurisdiction;(b) the instruction is for a dealing through a financial market that is not operated in this jurisdiction.