Today marks the day when the inevitable actually came to fruition. Ever since the European Securities and Markets Authority (ESMA) completed its very comprehensive directive in the form of MiFID II which extended huge and detailed trading infrastructure regulations to all electronic trading entities ranging from ETFs to margin brokers, Australia’s non-bank financial markets regulator ASIC has been demonstrating signs that it may emulate the European rulings. This has not happened, and ASIC is unlikely to emulate the European regulations in their entirety for two reasons, those being that ASIC is a regulatory ... (full story)