Australia’s Securities and Investment Commission (ASIC) It has turned to three of the country’s richest financial numbers to explore the internal operations of the Australian Stock Exchange, including the exchange’s doomed blockchain project.
ASIC conducted an investigation into IT’s “ongoing issues” on June 16, with the Reserve Bank of Australia saying the exchange operates stably and safely in the market plumbing capacity.
These concerns were intensified when ASX canceled its blockchain-based upgrade to its chess settlement engine in 2022, forcing expensive resets and attracting political heat. later Sue ASX Go beyond misleading statements about projects.
Rob Whitfield, former Westpac chief risk officer and now a director of Commonwealth Bank, will chair ASIC’s team. Joining him is Christine Holman, who sits on the board of utility AGL and restaurant operator Collins Foods, as well as Guy Debelle, a reserve bank for former Australian lieutenant governor.
The trio will examine ASX’s governance, technical capabilities and risk controls and recommend fixes for any weaknesses.
Their brief extension to the entire ASX group, Processing over $6 billion (US$3.92 billion) Trading is carried out every day.
Read more: Australia’s securities regulator sues ASX to mislead blockchain projects
