The Australian Securities and Investments Commission (ASIC) is investigating the Australian Securities Exchange (ASX) due to “repeated and serious failures” in its trading infrastructure, particularly concerning the troubled CHESS settlement system upgrade. An expert panel will evaluate ASX’s governance and risk management, as past technology failures have raised concerns about market trust and prompted potential legal actions against former executives.
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ASIC launches investigation into ASX after ‘repeated and serious failures’ in trading infrastructure
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