Internal oversight

Internal oversight of conflicts of interest exists at two levels:

ASX Licence Compliance

Licence Compliance is a specialist internal team of compliance officers that reports directly to the CEO and is responsible for:

  • Ensuring that the ASX Group has adequate arrangements to handle conflicts of interest, and
  • Assessing the adequacy of its arrangements to supervise the market, including the monitoring of Participants’ conduct in relation to the market and the enforcement of compliance with its Operating Rules.

Licence Compliance regularly reviews areas of the ASX Group that perform supervisory activities. The purpose of these reviews is to ensure that the relevant areas are conducting supervisory activities in accordance with the ASX Group’s statutory obligation in respect of a fair, orderly and transparent market, and fair and effective clearing and settlement facilities, and to have adequate resources in this regard.

Licence Compliance:

  • Provides written reports on these reviews to relevant Group Executives and the Chief Supervision Officer and summary reports to the CEO; and
  • Provides a written report to most meetings of the Board of ASXMS and attends those meetings for discussion of the report.

Board Committees

The Audit and Risk Committee (PDF 225KB) is a sub-committee of the ASX Board.  The Audit and Risk Committee’s responsibilities, within the governance structure of ASX, include:

  • reviewing reports from the ASX Group Compliance unit in relation to compliance with any conditions of regulatory licences, other than those delegated for reporting to ASXMS;
  • obtaining regular updates from management regarding compliance matters in relation to the ASX Group's compliance with significant statutory requirements; and
  • considering the findings of any examinations by regulatory bodies.

The Board of ASXMS considers for approval the CSO representations to the Audit and Risk Committee in relation to supervision matters which may impact the financial statements of the ASX Group and in relation to supervision risk assessment and management.

The Board of ASXMS provides a six monthly written report to the ASX Board regarding significant supervisory activities, issues, risk management, the supervision budget and efficiency measures, the adequacy of resources and such other matters as requested.