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Markets3h 29m ago
Sharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was "progressing well" was misleading, exposing market participants to financial harm.
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Australia
Who
ASX Ltd, ASIC, Federal Court, ASIC chairwoman Sarah Court
What
Sharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was "progressing well" was misleading, exposing market participants to financial harm.
When
Sun, 14 Jun 2026 21:40:20 GMT · 3h 29m ago
Where
Australia ·
Why
The CHESS replacement project was internally classified as "red" by December 21, 2021, due to significant unresolved risks, despite public statements of good progress.
The Frontline Impact
How this affects you
This admission and proposed penalty of $20.5 million for misleading disclosures risks undermining confidence in Australia's financial markets, as accurate and timely information is crucial for trust and stability, especially from core market infrastructure operators.
Story chain
3 events in this thread- Markets3h 29m agoASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was "progressing well" was misleading.Open article
- Markets3h 29m agoSharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was “progressing well” was misleading.Open article
- Currently Reading3h 29m agoSharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was "progressing well" was misleading, exposing market participants to financial harm.