The BCA commends the government for referring the issue of market integrity to the Corporations and Markets Advisory Committee for review.
Regulatory intervention in markets should only occur where there is a clearly identifiable problem to be addressed, and the costs of the regulation do not outweigh its benefits to the community and business.
The BCA is supportive of a public consultation process that enables consideration of the issues and appropriate responses.
Examining the areas covered by the CAMAC inquiry, this submission notes that the imposition of additional regulatory burdens or requirements on market participants is not warranted where a sufficient problem has not been evidenced.
Any intervention in markets must be proportionate to the problem, and must avoid unintended consequences.
This submission recommends guidance as an alternative to regulatory intervention.