Australian bourse operator admits to misleading market

Australian bourse operator admits to misleading market

The Australian Securities Exchange has reached an agreement with the corporate regulator to settle legal action and avoid a trial over misleading statements.

ASX settles ASIC proceedings related to CHESS project

ASX Limited today announced it has settled proceedings brought by ASIC in relation to statements made in 2022 on the status of the previous CHESS project. The post ASX settles ASIC proceedings related to CHESS project appeared first on FX News Group.

ASX to pay $23m, admits misrepresentation over CHESS replacement

ASX has admitted that it misled and exposed market participants to financial risk in an announcement related to the delivery of the CHESS replacement project in early 2022, despite realising the delay would occur as early as 21 December 2021. According to ASX's announcement in February 2022, the Clearing House Electronic Subregister System (CHESS) replacement project was "progressing well" to go live on the scheduled date of April 2023. However,…

ASX settles ASIC lawsuit, updates on CHESS project and penalty

The ASX Ltd (ASX: ASX) share price is in focus today after the company announced it will pay a $20.5 million penalty and contribute $3 million to ASIC's legal costs, settling longstanding legal proceedings related to its previous CHESS project. What did ASX report? Settled ASIC civil proceedings relating to past statements about the previous CHESS project Admitted to contravening provisions of the ASIC Act over "progressing well" claims Agreed …