ASIC takes aim at ASX CHESS hubris
James EyersSenior Reporter
Updated
ASX will be hit with more intense regulatory supervision to ensure it invests enough in the existing stockmarket settlement and clearing system after its plan to rebuild it collapsed last month, ASIC chairman Joe Longo said.
Australia’s top corporate cop said ASX’s failure to upgrade the CHESS system had “significantly shaken” his confidence in the market operator’s ability to manage technology projects.
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