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flag Australia’s top bank demands ASX fix governance and tech issues or face penalties within a year.

flag The Reserve Bank of Australia has warned ASX to urgently improve its governance, risk management, and operational resilience after a series of technology failures, including a major December outage that disrupted trading. flag The RBA stated ASX is not meeting regulatory standards for critical national infrastructure and may face further action if meaningful progress is not made within a year. flag Concerns center on repeated outages, delays in upgrading the aging CHESS system, and a failed blockchain initiative. flag ASX chairman David Clarke acknowledged the feedback and reaffirmed the company’s commitment to its five-year transformation plan, though the company’s share price has dropped over 36% since its 2021 peak amid ongoing scrutiny from the RBA and ASIC.

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