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.