Australian Securities and Investments Commission (ASIC) is seeking to tighten rules regarding the financial requirements for issuers of over-the-counter derivative products, Money Management reports. ASIC wants to ensure that issuers have adequate financial resources to manage their operating costs and risks. The proposed changes include the requirement that issuers create rolling 12-month cash flow projections. The current requirements may be replaced to hold surplus and adjusted surplus liquid funds with the requirement to hold net tangible assets of at least more than $1 million or 10% of average revenue.
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