Australia’s Securities and Investment Commission (ASIC) has turned to three of the country’s most seasoned finance figures to probe the inner workings of the Australian Securities Exchange, including the exchange’s doomed blockchain project.
ASIC launched the inquiry on June 16 over “ongoing concerns” it and the Reserve Bank of Australia expressed about the exchange’s ability to run stable and secure market plumbing.
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Those concerns intensified when ASX scrapped a blockchain-based upgrade to its CHESS settlement engine in 2022, forcing a costly reset and drawing political heat. ASIC later sued ASX over making misleading statements on the project.
Rob Whitfield, a former Westpac chief risk officer and now a Commonwealth Bank director, will chair ASIC’s panel. Joining him are Christine Holman,
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