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List of Recommendations

Recommendation 1

3.21      The committee recommends that Treasury and the Australian Securities and Investments Commission publish guidance material outlining the consultation process for the development of OTC derivatives regulations and rules. The material should be released by the commencement of the Corporations Legislation Amendment (Derivative Transactions) Act.

Recommendation 2

3.23      The committee recommends that the Australian Securities and Investments Commission release a regulatory guide explaining the derivative transactions and trade repository rules.

Recommendation 3

3.25      The committee recommends that the Australia Securities and Investments Commission provide regular updates on the development of OTC derivatives rules and the market's response to the new regulatory requirements. Updates can be provided as part of the committee's ongoing ASIC oversight process.

Recommendation 4

3.27      The committee recommends that ASIC issue guidance material on the confidentiality of data and trade repositories, and the use to which data may be put. ASIC should closely monitor the activities of derivative trade repository licensees regarding the use and disclosure of repository data.

Recommendation 5

3.50      The committee recommends that for matters relating to the energy sector, the Minister for Resources and Energy be consulted prior to the making of regulations, the mandating of derivatives or the consent to an ASIC rule.

Recommendation 6

3.51      The committee recommends that the bill be passed.

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