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First ASX assessment released

NOT bad but could do better is the Australian Securities and Investments Commission’s assessment of the Australian Stock Exchange’s market supervision role.

The report covers both the ASX and ASX Futures Markets and concludes that each has suitable market supervision processes, including arrangements for handling conflicts of interest, monitoring the conduct of market participants and enforcing compliance with the listing rules.

In some areas ASIC has requested, and the ASX has agreed, that further work would help bolster its already strong supervision arrangements.

Changes have been agreed, or are already under way, in relation to the supervision of warrant and futures markets, record-keeping of supervisory decisions and coordination of its supervisory arrangements.

The report follows the introduction in March of a Corporations Act requirement for ASIC to annually asses all market licensees with regard to their obligation to operate a fair, orderly and transparent market.

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