Independent expert EY says ASX won’t meet the June deadline for 80 per cent of its work to address the IBM action plan.
The second independent expert report on ASX Ltd’s work to assure the corporate regulator it has fully resolved the issues that caused market chaos when trading was halted for a full day will miss a key deadline.
“In addition, carryover ASX actions from prior quarterly reviews that require finalisation will need to be managed...in the coming quarters.”The expert report said the program continues to be well-run, with the appropriate governance and oversight and people to execute against the objectives, but noted that COVID-19 exposure presents potential issues beyond the team’s control.
So far, the market operator has submitted 31 of a total 59 recommendations for closure, with seven of those 31 still outstanding.
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