Reported about 6 hours ago
The Reserve Bank of Australia has called for major reforms in the governance and risk management of the Australian Securities Exchange (ASX) following a series of trading settlement failures. The central bank emphasized that ASX's clearing and settlement processes do not meet regulatory standards and stated it would closely monitor improvements. ASX CEO Helen Lofthouse acknowledged the need to rebuild trust with regulators, especially after a significant issue last December when trading settlements were deferred due to a system breakdown.
Source: YAHOO