ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis

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LexisNexis ASIC Market Integrity Rules (ASX Market) 2010“Deposits with an ASX Market Participant” means the total amount of third-party clientfunds paid to another Market Participant.“Deposits with an Australian Securities Exchange Participant” means the total amount ofthird-party client funds paid to a participant of Australian Securities Exchange in relation totransactions in futures contracts.“Deposits with an Overseas Broker” means the total amount of third-party client fundslodged with an Overseas Broker in relation to transactions in futures contracts.“Director/Employee Monies” means the total amount of money received from:(a) any director, or officer, of the Market Participant; and(b) any employee of the Market Participant;in respect of transactions in futures contracts dealt on any exchange.“Total Deposits” means the sum of subparagraphs (2)(c)(i) to (c)(ix).“Total Futures Client Monies” means the total amount of money received from Clients inrespect of transactions in futures contracts, including amounts relating to futures contractstraded on any exchange.“Total Third Party Client Monies” means:Total Futures Client Monies less (Associated/Related Company Monies plusDirector/Employee Monies)“Variation” means:Total Third Party Client Monies less Total Deposits(4) The reconciliation must contain a statement signed by a Responsible Executive or aperson authorised in writing by a Responsible Executive, stating that the signatory believes,and has no reason not to believe, that the reconciliation is accurate in all respects.Maximum penalty: $1,000,0003.5.9 Reconciliation of trust accounts(1) A Market Participant must perform a reconciliation of:(a)(b)that:the aggregate balance held by it at the close of business on each Business Day inclients’ trust accounts maintained pursuant to Rule 3.5.1 or 3.5.2 and the correspondingbalance as recorded in the Market Participant’s accounting records; andthe balance held by it at the close of business on the last Business Day of each week ontrust for each person on whose behalf money is held in a trust account maintainedpursuant to Rule 3.5.1 or 3.5.2 and the corresponding balance as recorded in the MarketParticipant’s accounting records,Copyright Australian Securities and Investments Commission. Reproduced with permission.
LexisNexis ASIC Market Integrity Rules (ASX Market) 2010(c)(d)is accurate in all respects; andcontains a statement signed by a Responsible Executive or a person authorised inwriting by a Responsible Executive, stating that the signatory believes, and has noreason not to believe, that the reconciliation is accurate in all respects.(2) The Market Participant must perform the reconciliation referred to in subrule (1) by7.00pm on the Trading Day after the Trading Day to which the reconciliation relates.Maximum penalty: $1,000,0003.5.10 Obligation to notify ASIC in respect of reconciliationA Market Participant must notify ASIC, in writing, within 2 Business Days if:(a) a reconciliation has not been performed in accordance with Rule 3.5.8;(b) a reconciliation has not been performed in accordance with Rule 3.5.9;(c) according to a reconciliation performed pursuant to Rule 3.5.8, Total Deposits is lessthan Total Third Party Client Monies; or(d)according to a reconciliation performed pursuant to Rule 3.5.9, there is a deficiency offunds in its trust accounts (or, in respect of a reconciliation performed pursuant toparagraph 3.5.9(1)(b), a deficiency in respect of any particular person on whose behalfmoney is held in the trust account) or if it is unable to reconcile its trust accountspursuant to Rule 3.5.9.Maximum penalty: $100,0003.5.11 Schedule of trust amountsEach Market Participant must by no later than 5 Business Days after 31 March, 30 June,30 September and 31 December in each year cause to be prepared a schedule as at the abovedates showing the respective amounts held in the Market Participant’s trust account onbehalf of clients together with the names of the particular client in respect of each amount.Maximum penalty: $100,000Part 3.6 Prohibition of advice to Client3.6.1 Definition used in this Part 3.6For the purposes of this Part 3.6, “Client” includes a shareholder in a company whichconstitutes the Market Participant.Note: There is no penalty for this Rule.Copyright Australian Securities and Investments Commission. Reproduced with permission.
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ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis

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