ARNECC MOR/MPR Version 5.1
The AICWA is pleased to again had the opportunity as a key industry stakeholder to make a submission on behalf of its members regarding the draft versions of the MPR and MOR.
The revised drafts raise some significant concerns in particular Rules 5.6 to 5.6.5 which limits ARNECC’s ability to regulate the behaviours of an ELNO that may have significant advantage from being the only platform or having derived significant market share from having benefited from various state mandates.
Draft Rule 5.6 through to 5.6.5 in their current state significantly reduce the ability of ARNECC to serve as regulator and establish any confidence that potential abuses will be unavoidable or managed appropriately.
The contents of the consultation drafts along with concerns previously noted by the AICWA highlight the immaturity of the current regulatory framework specifically, the MPR, MOR and the Electronic Conveyancing National Law (ECNL).
Read AICWA’s submission HERE
Source:3rd October 2018 AICWA e-Newsletter
Sympli - New e-Settlement Platform on the horizon
InfoTrack and the ASX Limited have announced the establishment of Sympli, an alternative electronic settlement platform.
The new platform is expected to roll out later this year once it has received regulatory approval.
For further information see:
Today's press release
AICWA has made its submission to ARNECC in response to Draft Version 5 of the Model Operating Requirements and Model Participation Rules. AICWA’s submission can be viewed in its entirety HERE
AICWA is pleased to note that its long held position relating to a lack of consumer pricing protection, as well as support for competition through interoperability have been addressed in the draft version 5 of the MOR, however, we wish to highlight to members our concerns regarding proposed rule “5.6 Separation”.
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