At the request of IR Plus Securities Exchange Ltd (previously SIM Venture Securities Exchange Ltd), the Minister has cancelled IR Plus’ Australian Market Licence effective from 27 February 2018. The cancellation was notified in the Australian Gazette of 6 March 2018.
Accordingly, IR Plus is no longer required to have Part 7.5 Div 3 compensation arrangements including a Fidelity Fund. IR Plus Compensation Rules provides:
8.1 If SIM VSE ceases (for whatever reason) to be required to have compensation arrangements, the rights of people to seek compensation under the arrangements being rights that accrued while SIM VSE was required to have such arrangements, will be adequately protected insofar as SIM VSE will maintain insurance or other funding arrangements for a period of six months from the day upon which SIM VSE ceased to be so required.
This is NOTICE that IR Plus Securities Exchange Ltd is no longer required to have Div 3 compensation arrangements. However, compensation arrangements will continue until 27 August 2018 when it will cease.
IR Plus previously held an Australian Market License ("AML") granted under the Corporations Act. Compliance by the exchange with the obligations imposed under the Corporations Act and via the terms of the AML is regulated by the Australian Securities and Investment Commission ("ASIC").
The IR Plus Listing Rules outline the requirements and obligations in relation to a company's admission to the IR Plus Official List and ongoing obligations for listed companies.
Listing Rules Annexures
IR Plus Brokers are bound by the IR Plus Business Rules and must ensure compliance with these rules. The IR Plus Business Rules are closely linked to the operation of the trading system and should be read in conjunction with the relevant Guidance Notes.
Business Rules Annexures
Business Rules Guidance Notes
ASIC Market Integrity Rules
IR Plus Brokers are also governed by the ASIC Market Integrity Rules. The IR Plus Business Rules must also be read in conjunction with the ASIC Market Integrity Rules.
The Corporations Amendment (Financial Market Supervision) Act 2010 provides for a new class of IR Plus rules called market integrity rules. These rules have been drafted by ASIC and apply to market operators, market participants and other prescribed entities and financial products traded on the relevant markets.
The following ASIC market integrity rules were made on 1 August 2010 and are based on legislation and regulations as at 1 August 2010. ASIC's approach in making market integrity rules has been to not change the substance of the pre-existing obligations that apply to participants of the relevant markets at this time.
ASIC is responsible for supervising compliance with these rules.
The relevant documents are the ASIC Market Integrity Rules (IR Plus market), ASIC Market Integrity Rule Appendix (Comparison of IR Plus Business Rules and ASIC Market Integrity Rules IR Plus Market) and Regulatory Guide 215: Guidance on ASIC market integrity rules for NSXA and IR Plus markets.
The latest documents can be found on the ASIC Market Integrity Rules Website.
IR Plus Compensation Fund
This document contains the rules governing the compensation arrangements put in place by IR Plus.
|IR Plus Compensation Rules|
IR Plus has the following Exchange Brokers who facilitate and support trading on the exchange.
|Affinity Wealth Services||http://www.affinitywealth.com.au/||28-Jun-2013|
|Baillieu Holst Ltd||http://www.baillieuholst.com.au/||12-Apr-2012|
|Bell Potter Securities Limited||http://www.bellpotter.com.au/||25-Feb-2014|
|Dolphin Partners Pty Ltd||http://www.dolphinpartners.com.au/||4-Apr-2013|
|Morgans Financial Limited||http://www.morgans.com.au/||19-Feb-2004|
|Openmarkets Australia Limited||http://www.openmarkets.com.au/||19-Aug-2013|
|Patersons Securities Limited||http://www.psl.com.au/||2-Mar-2012|
Level 1, 7 Bridge Street
Sydney NSW 2000
PO Box R1794
Royal Exchange NSW 1225
t: +61 2 8024 5200
e: [email protected]