Margin lending regulation

The failure of broker Tricom last week to settle trades on time as a result of liquidity difficulty due to its margin lending activity has reportedly prompted the Australian Securities Exchange (ASX) to review margin lending (ie borrowing to buy shares). (The Age)

Interestingly the ASX is still promoting margin lending options.

The Australian today discusses whether ASIC should take over the supervisory and regulatory functions of the ASX following last week’s events.

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