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FSC supports the Government’s HFT and dark pool proposals

21 Nov 2012
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The Financial Services Council has today supported the Government’s market integrity rules dealing with high frequency trading and dark pools. 

John Brogden, CEO of the Financial Services Council said: “The Government has adopted a measured approach which strengthens the governance and oversight of high frequency trading and dark pools.” 

“We fully support these proposals which provide the flexibility for ASIC to monitor the market and introduce further controls at a later stage if necessary.” 

“The Government has got the balance right. A regulatory over-reaction would be just as damaging to the market as not introducing any new controls,” Mr Brogden said. 

The FSC also welcomed the announcement of a review into Australia’s financial market licensing framework.

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