Australian Client Money shakeup

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safe-547617_1280The Australian Government has this week signalled their intention to proceed with client money reforms in respect of OTC derivatives.

Some industry players are concerned by the proposed reforms because they appear to have been drafted with scant regard to how margin FX and CFD brokers operate, particularly with respect to generating market competition. The new regulatory regime is likely to favour large market makers over STP brokers and smaller less sophisticated and less capitalised brokers.

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About The Author

Sophie Gerber

Sophie is the director of both Sophie Grace Legal Pty Ltd and Sophie Grace Pty Ltd. Sophie has worked with some of Australia’s largest financial services organisations in compliance, legal and operational roles. She has also worked with small businesses to provide tailored solutions with a strong understanding of business practicalities as well as obligations to regulators.

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