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The ASX Group (ASX) today announces that it will be transferring the listings adviser functions of its Adelaide and Brisbane offices to Sydney from 31 March 2012.
The bulk of ASX’s communications with its listed entities are electronic – telephone, email and internet - and many listings functions are already centralised in Sydney, including the publication of company announcements and the coordination of listing applications and rule waivers.
The original interstate offices were established before the creation of ASX in 1987 when Australia had separate state-based exchanges.
The five listings advisers affected (one in Adelaide and four in Brisbane) have the opportunity to redeploy to the
Sydney office. Additional advisers will be recruited in Sydney to fill any gaps arising from the transfer. ASX arrangements in Melbourne and Perth are not affected.
Kevin Lewis, Chief Compliance Officer of ASX, said: “Listed entities, wherever they are located, are increasingly interacting electronically with ASX, including via our dedicated online services, rather than face-to-face.
“Concentrating ASX’s compliance resources in fewer locations will improve the consistency of our application and oversight of the listing rules. It will also enhance opportunities for staff training and development.
“ASX’s national roadshows and other education events on listing rule matters will continue to tour Adelaide and Brisbane for the benefit of our listed entities and other stakeholders based there.”
