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New Australian laws to promote competition in market for clearing-and-settlement services

By Ryan Cropp ( September 6, 2023, 06:40 GMT | Insight) -- Australia’s securities regulator will have the power to enforce competitive outcomes in the market for clearing-and-settlement services, after new laws were passed by Australia’s parliament today. In a statement, Australian Treasurer Jim Chalmers said Australia’s central bank and its securities regulator would have the power to set rules for the conduct of clearing-and-settlement services that would prevent dominant players from stifling competition in the sector. In addition, Australia’s competition watchdog would also be given the power to arbitrate disputes around price and access to these services.Australia’s securities regulator will have the power to enforce competitive outcomes in the market for clearing-and-settlement services, after new laws were passed by Australia’s parliament today....

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