ASIC sues ASX Limited for allegedly misleading statements about CHESS replacement progress.

Australia's corporate watchdog, ASIC, has sued ASX Limited, the country's largest market operator, for allegedly misleading statements regarding the progress of its project to replace its core trading system, CHESS. ASIC claims that ASX's statements in February 2022, claiming the project was "on-track for go-live" in April 2023 and "progressing well" were misleading, as the project was not on track at that time. ASX faces potential penalties for the alleged contraventions.

August 13, 2024
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