{"id":"F2016L01481","name":"ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889","slug":"asic-corporations-records-dealings-on-foreign-markets-instrument-2016-889","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":438945,"registerId":"F2016L01481-fast-fetch-1775955155234","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: CO 03-826 DRAFT remake\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889\n\nI, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate  19 September 2016\n\n \n\n \n\nGrant Moodie\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc462049262)\n\n[1 Name of legislative instrument](#_Toc462049263)\n\n[2 Commencement](#_Toc462049264)\n\n[3 Authority](#_Toc462049265)\n\n[4 Definitions](#_Toc462049266)\n\n[Part 2—Exemption](#_Toc462049267)\n\n[5 Records of instructions to deal on foreign markets](#_Toc462049268)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889.\n\n2 Commencement\n\nThis instrument commences on the day after it is registered on the Federal Register of Legislation.\n\nNote: The register may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n3 Authority\n\nThis instrument is made under subsection 992B(1) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\nRegulations means the Corporations Regulations 2001.\n\nPart 2—Exemption\n\n5 Records of instructions to deal on foreign markets\n\nA financial services licensee does not have comply with regulation 7.8.19 of the Regulations in relation to an instruction to deal in financial products received by the licensee to which both of the following apply:\n\n(a) the instruction is from or on behalf of a wholesale client who is not in this jurisdiction;\n\n(b) the instruction is for a dealing through a financial market that is not operated in this jurisdiction.\n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"Section 5 narrows the application of regulation 7.8.19 by exempting record‑keeping for instructions received from wholesale clients outside Australia for dealings on markets not operated in Australia. The instrument therefore reduces the set of transactions covered by the Regulations, shifting some compliance and information‑access costs away from domestic record requirements."},"complexity_factors":["Very narrow scope: single, targeted exemption (see section 5).","Relies on interpretation of cross‑border terms — 'not in this jurisdiction' and 'not operated in this jurisdiction' — requiring factual determinations.","References an external rule (Regulation 7.8.19) so practical effect depends on that regulation's content.","Minimal defined terms and procedural detail reduce internal complexity but increase reliance on contextual application.","Affects compliance and evidentiary posture for cross‑border transactions, creating operational adjustments rather than broad regulatory overhaul."],"plain_english_summary":"This instrument removes the Australian record‑keeping obligation in regulation 7.8.19 for instructions to trade that come from wholesale clients who are located outside Australia and that are for dealings on markets operated outside Australia. It therefore reduces record‑keeping duties and compliance costs for Australian financial services licensees executing such cross‑border wholesale trades, while narrowing the range of transactions for which regulators automatically hold domestic records."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument remains tightly focused on its original purpose: exempting specific foreign-market dealings from domestic record-keeping requirements. The scope has not expanded beyond the narrow exemption for wholesale clients trading on foreign markets."},"complexity_factors":["Extremely short: only 5 sections across 2 Parts","Only 1 defined term ('Regulations') in the interpretation section","Single operative provision (section 5) with straightforward binary conditions","No cross-references to other legislation beyond the enabling provision (Corporations Act s 992B(1)) and the exempted regulation (7.8.19)","No exceptions, provisos, or nested conditional logic","Clear, simple structure: preliminary matters followed by single exemption"],"plain_english_summary":"This instrument grants Australian financial services licensees a limited exemption from the Corporations Regulations’ record‑keeping requirement for buy/sell instructions when the instruction is from a wholesale client located outside Australia and the dealing occurs on a foreign financial market. It affects Australian brokers executing international trades for offshore wholesale clients and reduces compliance costs and duplicate record‑keeping, helping them compete globally while preserving protections for domestic retail investors."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-records-dealings-on-foreign-markets-instrument-2016-889","history":"/api/acts/asic-corporations-records-dealings-on-foreign-markets-instrument-2016-889/history","analysis":"/api/acts/asic-corporations-records-dealings-on-foreign-markets-instrument-2016-889/analysis","conflicts":"/api/acts/asic-corporations-records-dealings-on-foreign-markets-instrument-2016-889/conflicts","importantCases":"/api/acts/asic-corporations-records-dealings-on-foreign-markets-instrument-2016-889/important-cases","documents":"/api/acts/asic-corporations-records-dealings-on-foreign-markets-instrument-2016-889/documents"}}