ASX:ASXCapital Markets
Does ASX (ASX:ASX) Misleading CHESS Disclosure Undermine Its Governance And Market Trust Narrative?
ASX Limited has admitted that its February 10, 2022 statement that the CHESS replacement project was “progressing well” was misleading, and, following ASIC’s civil proceedings, has agreed to a proposed A$20.5 million penalty and A$3 million contribution to ASIC’s costs, subject to Federal Court approval.
The case highlights how weaknesses in project governance and disclosure around ASX’s core CHESS infrastructure can carry legal, financial and confidence repercussions for Australia’s market...