Regulations and Requirements
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      Who are ASIC Reporting Entities and what OTC Derivatives must be reported?

      Reporting Entities and OTC Derivatives

      1. Item

      2. Reporting Entity

      3. OTC Derivatives

      1

      An Australian Entity that is:

      (a)  an Australian ADI;

      (b)  an AFS Licensee; or

      (c)  a CS Facility Licensee.

      All OTC Derivatives to which the Reporting Entity is a counterparty, regardless of where the OTC Derivative is entered into.

      2

      A foreign entity that is required to be registered under Division 2 of Part 5B.2 of the Act and is:

      (a)  a Foreign ADI that has a branch located in this jurisdiction;

      (b)  an AFS Licensee;

      (c)  a CS Facility Licensee; or

      (d)  an Exempt Foreign Licensee.

      All OTC Derivatives:

      (a)  entered into with a Retail Client located in this jurisdiction;

      (b)  booked to the profit or loss account of a branch of the Reporting Entity located in this jurisdiction; or

      (c)  entered into by the Reporting Entity in this jurisdiction.

      Reportable events

      1. execution
      2. the modification or termination 
      3. the assignment
      4. a change to the way a Reporting Entity records an OTC Derivative in the Reporting Entity’s books and records

      Duplicative Reports

      A Reporting Entity must use its best endeavours to ensure that a report about:

      (a)        a Reportable Transaction is not a duplicated report; and

      (b)       a change to the information reported about an OTC Derivative that does not constitute a Reportable Transaction is not a duplicated report.

      Note 1: Changes to reported information about an OTC Derivative may not be a Reportable Transaction, but those changes must also be reported: See Rule 2.2.2.

      Note 2: A report of a change or changes to valuation or collateral information where the amounts reported do not change but the date or date and time at which the reported valuation or collateral amounts were determined has changed is not a duplicated report.

      Note 3: A report of a change to the way a Reporting Entity records an OTC Derivative in the Reporting Entity’s books and records (see 1.2.5(1)(b)(iv)) is not a duplicated report.