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From 1 July 2006, all ASX’s supervisory operations will be conducted by a subsidiary company: ASX Markets Supervision Pty Ltd. ASX Markets Supervision will operate under its own Charter and in line with its own principles-based approach to supervisory operations.
The members of the ASX Markets Supervision board, appointed on a 12-month rolling basis, are:
- Maurice Newman, chairman, who is also chairman of ASX Limited;
- Michael Sharpe, an ASX Limited director and chair of its Audit and Risk Committee;
- Jillian Segal, an ASX Limited director; and
- Tom Parry, an independent external director.
Under the new structure, ASX supervisory operations will be conducted by existing Market Supervision staff reporting to the Chief Supervision Officer (CSO). The CSO position has been filled by Eric Mayne, currently ASX’s Group Executive, Market Supervision. As previously announced, the CSO will report to the Board of the subsidiary company on operational supervisory matters.
The new subsidiary company will be responsible for monitoring the conduct of market users and their compliance with ASX’s Operating Rules, enforcing the Operating Rules, and ensuring that sufficient resources are allocated to it to perform its supervisory functions. It will also have primary responsibility for monitoring the handling of conflicts between the commercial and supervisory interests of ASX.
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