The Australian Securities and Investments Commission has announced the release of a class order relieving some wholesale foreign services providers registered with the US Commodity Futures Trading Commission (CFTC) from the requirement to hold an Australian financial services (AFS) licence.
The relief relates to futures commission merchants, introducing brokers, commodity pool operators and commodity trading advisors who are registered with the CFTC and are members of the US National Futures Association.
ASIC regulatory policy director Mark Adams said the relief brought the CFTC regulatory scheme in line with Australian schemes.
"By granting this relief, ASIC recognises that the CFTC regulatory regime is sufficiently equivalent to our own," he said.
"This relief means ASIC now recognises all the major federal United States financial regulators under ASIC policy176."
