Summary
Introduced with the ASIC Supervisory Cost Recovery Levy Amendment Bill 2017, the bill amends the: Corporations Act 2001 to: establish a new licensing regime requiring administrators of designated significant financial benchmarks to obtain a benchmark administrator licence from the Australian Securities and Investments Commission (ASIC); enable ASIC to make rules imposing a regulatory framework for licensed benchmark administrators and related matters; and create offences and penalties for manipulation of financial benchmarks; Productivity Commission Act 1998 to provide for the appointment of an additional commissioner to oversee the work of the Productivity Commission in relation to the evaluation of policies and programs that have an impact on Indigenous persons; and Corporations Act 2001 and Treasury Laws Amendment (2016 Measures No. 1) Act 2017 to make consequential amendments.