ASIC has released Regulatory Guide 222 Substantial holding disclosure: securities lending and prime broking (RG 222) and relief (contained in Class Order [CO 11/272]) aimed at achieving better disclosure by parties that are engaging in securities lending of substantial holdings in listed entities.

ASIC has also released Report 235 Response to submissions on CP 107: Securities lending and substantial holding disclosure (REP 235), which summarises consultations with industry leading to the new regulatory guidance.

Under the new guidance, ASIC sets out its expectations as to how parties involved in securities lending (including securities lenders and borrowers) will disclose substantial holdings in listed entities (interest of 5% or more) and prime brokers, who may have on-going borrowing agreements with their clients, will disclose substantial holdings.