ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis

LexisNexis ASIC Market Integrity Rules (ASX Market) 20103.6.2 Market Participant possesses information that is not generally availableWhere as a result of its relationship to a Client, a Market Participant is in possession ofinformation that is not generally available in relation to a Financial Product and which wouldbe likely to materially affect the price of that Financial Product if the information wasgenerally available, that Market Participant must not give any advice to any other Client of anature that would damage the interest of either of those Clients.Maximum penalty: $1,000,0003.6.3 Chinese Walls in placeFor the purposes of Rule 3.6.2, a Market Participant is not regarded as having possession ofinformation that is not generally available in relation to a Financial Product where:(a)(b)(c)that Market Participant has in place arrangements whereby information known topersons included in one part of the business of the Market Participant is not available,directly or indirectly, to those involved in another part of the business of the MarketParticipant;it is accepted that in each of the parts of the business of the Market Participant sodivided, decisions will be taken without reference to any interest which any other suchpart or any person in any other such part of the business of the Market Participant mayhave in the matter; andthe person advising the Client is not in possession of that information.Note: There is no penalty for this Rule.3.6.4 Certain actions do not constitute giving adviceFor the purposes of Rule 3.6.2, a Market Participant or an Employee or partner of a MarketParticipant advising a Client that the Market Participant is precluded from giving the Clientadvice will not be regarded as giving advice.Note: There is no penalty for this Rule.Copyright Australian Securities and Investments Commission. Reproduced with permission.