ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis
ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis
ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis
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<strong>LexisNexis</strong> <strong>ASIC</strong> <strong>Market</strong> <strong>Integrity</strong> <strong>Rules</strong> (<strong>ASX</strong> <strong>Market</strong>) <strong>2010</strong>3.2.4 Brokerage and commission(1) When a <strong>Market</strong> Participant enters into a <strong>Market</strong> Transaction as Principal on its ownbehalf with a person (the “Client”), the <strong>Market</strong> Participant must not charge the Clientbrokerage, commission or any other fee in respect of the <strong>Market</strong> Transaction, except in thefollowing circumstances:(a)(b)(c)where the Client is a Prescribed Person of the <strong>Market</strong> Participant;where the Client is a Wholesale Client who has consented to the <strong>Market</strong> Participantcharging brokerage, commission or the other fee (and that consent has not beenwithdrawn); orwhere otherwise permitted by the Corporations Act.(2) The <strong>Market</strong> Participant must keep a written record of any consent given by a WholesaleClient under paragraph (1)(b), and send a copy of the record to that Wholesale Client as soonas practicable.Maximum penalty: $100,0003.2.5 Extended meaning of dealing as Principal(1) Except where a <strong>Market</strong> Participant is dealing as a trustee of a trust in which the <strong>Market</strong>Participant has no direct or indirect beneficial interest, a reference in this Part 3.2 to a <strong>Market</strong>Participant dealing or entering into a <strong>Market</strong> Transaction as Principal, includes a reference toa <strong>Market</strong> Participant entering into a <strong>Market</strong> Transaction on its own behalf or on behalf of anyof the following persons:(a)(b)(c)(d)(e)a partner of the <strong>Market</strong> Participant;a director, company secretary or Substantial Holder of the <strong>Market</strong> Participant;the Immediate Family, Family Company or Family Trust of a partner, director,company secretary or Substantial Holder of the <strong>Market</strong> Participant;a body corporate in which the interests of one or more of the partners singly or togetherconstitute a controlling interest;any Related Body Corporate of the <strong>Market</strong> Participant.(2) Without limitation, in paragraph (1)(b), a reference to dealing on behalf of a SubstantialHolder means that any Cash <strong>Market</strong> Product the subject of the <strong>Market</strong> Transaction is, or willbe on the execution of the transaction, beneficially owned by the Substantial Holders.(3) For the purposes of subrule (2), Cash <strong>Market</strong> Products beneficially owned by aSubstantial Holder include Cash <strong>Market</strong> Products that appear or would appear as assets onthe balance sheet or consolidated balance sheet of that Substantial Holder’s assets andliabilities, except where the Cash <strong>Market</strong> Products concerned appear or would appear asassets on the balance sheet or consolidated balance sheet of a life insurance companyregistered under the Life Insurance Act 1995 or the equivalent Act of a State, and are held foror on behalf of that life insurance company’s statutory funds.Copyright Australian Securities and Investments Commission. Reproduced with permission.