On September 23, 2024, APRA remade Prudential Standard APS 117 Capital Adequacy: Interest Rate Risk in the Banking Book (Advanced ADIs), following a consultation that received no submissions. The new APS 117 Capital Adequacy: Interest Rate Risk in the Banking Book (Advanced ADIs) updates the previous version of the prudential standard. The only change is a textual amendment to update a reference from Prudential Standard APS 001 Definitions (APS 001) to Prudential Standard CPS 001 Defined Terms (CPS 001). The remade Prudential Standard remains effective from April 1, 2025, until the updated APS 117 Capital Adequacy: Interest Rate Risk in the Banking Book takes effect on October 1, 2025. Both standards have been officially registered by the Australian Government.

Regulator Web Page
 

Overview: Market manipulation is covered in Volume 5, Part 7.10: Market misconduct and other prohibited conduct relating to financial products and financial services. An outline of the section is as follows:

• Division 1 – Preliminary 
• Division 2 – The prohibited conduct (other than insider trading prohibitions)
  • 1041A: Market manipulation
  • 1041B: False trading and market rigging—creating a false or misleading appearance of active trading etc.
  • 1041C: False trading and market rigging—artificially maintaining etc. trading price
  • 1041D: Dissemination of information about illegal transactions
  • 1041E: False or misleading statements
  • 1041F: Inducing persons to deal
  • 1041G: Dishonest conduct
  • 1041H: Misleading or deceptive conduct (civil liability only)
  • 1041I: Civil action for loss or damage for contravention of sections 1041E to 1041H
  • 1041J: Sections of this Division have effect independently of each other
  • 1041K: Division applies to certain conduct to the exclusion of State Fair Trading Acts provisions
• Division 2A – Proportionate liability for misleading and deceptive conduct
• Division 3 – The insider trading prohibitions
• Subdivision A – Preliminary
• Subdivision B – The prohibited conduct
• Division 4 – Defences, relief and limits on liability
• Division 5 – Miscellaneous

Derivative and derivative-like products are financial products that are primarily regulated under the Corporations Act.

Overview: These rules apply to market operators and participants in the securities, futures, capital and IMB markets. The securities markets include ASX, Chi-X, NSXA and SSX.

Under Rule 5.11.1, a market participant must notify ASIC if it has reasonable grounds to suspect that a person has placed an order or entered into a transaction:

• while in possession of inside information; or
• which has the effect of creating or maintaining an artificial price or a false or misleading appearance in the market or price for trading in financial products. 

Overview: This note covers The Prevention of Manipulative Trading – Transactions Involving No Change in Beneficial Ownership. 

Rule 13.4 is to prevent trading activity which may, or is intended to, result in: 

• a false or misleading appearance of active trading in a product; 
• a false or misleading appearance as to the market for a product; or 
• a false or misleading appearance as the price of a product. 

These false or misleading appearances are referred to as “manipulation” in this Guidance Note.