The legal structure and regulation of securities lending (Pt 2)

connection with the collapse of Opes Prime in Australia
and the Australian Federal Court decision which
considered the legal characterisation of securities loans.
The Opes Prime collapse provoked huge controversy
regarding the role of securities lending and the ensuing
court decision was the first judicial examination of
securities lending in Australia.1 The article also considers
the regulatory responses to securities lending and short
selling taken by the International Organisation of
Securities Commissions (IOSCO) and in Australia, the
United Kingdom, Europe and the United States during
the global financial crisis.