{"id":866476,"date":"2025-08-19T23:13:30","date_gmt":"2025-08-20T04:13:30","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/08\/19\/corporate-regulator-accuses-asx-of-multiple-and-significant-shortcomings\/"},"modified":"2025-08-19T23:13:30","modified_gmt":"2025-08-20T04:13:30","slug":"corporate-regulator-accuses-asx-of-multiple-and-significant-shortcomings","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/08\/19\/corporate-regulator-accuses-asx-of-multiple-and-significant-shortcomings\/","title":{"rendered":"Corporate regulator accuses ASX of multiple and significant shortcomings"},"content":{"rendered":"

Bitcoins <\/p>\n

\n
\n
\n
\n
\n\"bitcoins\t\t\t\t\t<\/a><\/figure>\n<\/div>\n
\n
\n

Australian Securities and Investments Commission (ASIC) announced today it will investigate the ASX\u2019s risk management, capability and governance standards amid ongoing concerns over its ability to uphold a \u201cstable, secure and resilient critical market infrastructure\u201d.<\/span><\/p>\n

\n

ASIC\u2019s inquiry will probe a series of technical failures which the regulator believes may have been caused by broader governance issues.<\/span><\/p>\n<\/div>\n

\"bitcoins
ASIC has launched an inquiry into the Australian Securities Exchange (ASX). Pictured: ASX headquarters in Sydney. (Shutterstock)<\/figcaption><\/figure>\n

This will include a review of the problematic upgrade of the ASX\u2019s CHESS settlement system.<\/span><\/p>\n

CHESS, which stands for Clearing House Electronic Subregister System, is a computer model used by the ASX to record shareholding investments and manage share transactions.<\/span><\/p>\n

\n

ASIC has discontinued its \ufeffinvestigation into the December 2024 CHESS Batch Settlement Incident.<\/span><\/p>\n<\/div>\n

The incident will now form part of the broader inquiry announced today.<\/span><\/p>\n

ASIC chair Joe Longo said the review is an opportunity for the ASX to \u201cbolster market trust\u201d following a series of \u201cfailures\u201d.<\/span><\/p>\n

\n

\u201cASX operates Australia\u2019s critical markets infrastructure. Investors and market participants deserve to have absolute confidence that ASX is operating soundly, securely and effectively,\u201d Longo said.<\/span><\/p>\n<\/div>\n

\u201cASIC\u2019s decision to initiate an inquiry follows repeated and serious failures at ASX.<\/span><\/p>\n

\u201cASX is ubiquitous, you simply cannot buy and settle on the Australian public equities and futures markets without relying on ASX and its systems.\u201d<\/span><\/p>\n

\"bitcoins
The probe will include a review into the problematic upgrade of the ASX\u2019s CHESS settlement system. (Getty)<\/figcaption><\/figure>\n
\n

\ufeffASIC will convene an expert panel for the review and an update will be announced in the coming weeks.<\/span><\/p>\n<\/div>\n

There is no timeframe yet for the completion of the inquiry.<\/span><\/p>\n

\ufeffASX chairman David Clarke acknowledged the ASIC inquiry in a statement to the media.<\/span><\/p>\n

\n

\ufeff\u201dWe have been working hard on a transformation strategy with several of the initiatives designed to strengthen culture and capabilities, operational risk management, business resilience and technology resilience, but we acknowledge there have been incidents that have damaged trust in ASX,\u201d Clarke said.<\/span><\/p>\n<\/div>\n

\u201cWe welcome the opportunity for independent parties to review the work underway and advise on what more we can do.\u201d<\/span><\/p>\n<\/div>\n


\n<\/amp-ad><\/section>\n<\/div>\n<\/div>\n

NewsFinale Journal Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Australian Securities and Investments Commission (ASIC) announced today it will investigate the ASX\u2019s risk management, capability and governance standards amid ongoing concerns over its ability to uphold a \u201cstable, secure and resilient critical market infrastructure\u201d. ASIC\u2019s inquiry will probe a series of technical failures which the regulator believes may have been caused by broader governance<\/p>\n","protected":false},"author":1,"featured_media":866477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2024,330],"tags":[],"class_list":{"0":"post-866476","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-corporate","8":"category-regulator"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/866476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=866476"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/866476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/866477"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=866476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=866476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=866476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}