The corporate regulator is suing Australia’s stock exchange operator, the Australian Securities Exchange (ASX), in the Federal Court for allegedly misleading statements it made to the market.
The corporate regulator is suing Australia’s stock exchange operator, the Australian Securities Exchange , in the Federal Court for allegedly misleading statements made in relation to the replacement of its core trading system, the Clearing House Electronic Subregister System project.
“ASX’s statements go to the heart of trust in the integrity of our markets. We believe this was a collective failure by the ASX Board and senior executives at the time,” ASIC Chair Joe Longo, said. Longo said ASX’s CHESS replacement is a technology project of fundamental significance, replacing critical national infrastructure crucial to the operation of the Australian economy.
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