ASIC alleges the Australian Securities Exchange misled the public about its technology project.
August 15, 2024 at 05:13 AM
3 minute read
Correspondent, Sydney
Australia’s financial regulator is suing the Australian Securities Exchange Ltd, alleging that ASX made misleading statements about the progress of its project to replace its clearing and settlement system.
In documents filed in the Federal Court of Australia this week, the Australian Securities and Investments Commission (ASIC) claims the ASX made misleading statements in February 2022 when it said its technology project remained “on-track for go-live” in April 2023 and was “progressing well”.
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