Enforcement action against ASX Participants

The Enforcement unit within ASX Compliance is responsible for bringing enforcement action against market, clearing and settlement participants for breaches of ASX's operating rules.

Enforcement decisions are made in the first instance by the ASX Chief Compliance Officer (CCO) in accordance with the ASX Enforcement and Appeals Rulebook. A right of appeal lies from decisions of the CCO to the ASX Appeal Tribunal.

More information about the types of action that ASX may take against a participant for breaching the operating rules is available here.

ASX referrals to ASIC

ASX works closely with ASIC, the government regulator responsible for supervising all markets and clearing and settlement facilities in Australia and for policing compliance with the Corporations Act and the Market Integrity Rules.

As a licensed market operator and provider of clearing and settlement facilities, ASX is obliged under the Corporations Act and under a Memorandum of Understanding with ASIC to notify ASIC of various matters, including any:

  • suspected significant contraventions of the Corporations Act or of ASX's listing rules or operating rules;
  • matters that may adversely affect the ability of a market participant to meet its obligations as a financial services licensee; and
  • disciplinary action against a market, clearing or settlement participant for breaches of ASX's operating rules.

The Enforcement unit within ASX Compliance is responsible for co-ordinating referrals to ASIC in accordance with these requirements.