ASIC has released updated guidance for Australian financial services licensees that hold client money for trading in over-the-counter (OTC) derivatives.  The guidance coincides with the start of ASIC’s Client Money Reporting Rules 2017 and other client money reforms on 4 April 2018 enacted under the Treasury Laws Amendment (2016 Measures No. 1) Act 2017 and the Corporations Amendment (Client Money) Regulations 2017.  ASIC Regulatory Guide 212 Client money relating to dealing in OTC derivatives (RG 212) has been updated to reflect the changes to the law as a result of these reforms.