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The Australian Securities Exchange (ASX) has today announced a number of changes to ASX’s supervisory investigation powers and processes.
The objective of the changes is to improve the efficiency and effectiveness of ASX supervision for the benefit of all market stakeholders.
The changes relate to the:- Publication of Disciplinary Tribunal determinations;
- Introduction of Breach Notices;
- Increase in the maximum dollar penalty that can be determined by Disciplinary Tribunals; and
- Time allowed to pay fines imposed by the Disciplinary Tribunals.
The changes were announced during speeches by Eric Mayne, ASX’s Chief Supervision Officer, and David Lawrence, ASX General Manager Participants, at the 2007 Securities and Derivatives Industry Association (SDIA) Conference at the Hilton Hotel in Sydney.
The changes follow a period of public consultation about the proposal paper Supervisory Powers and Processe
An ASX Circular detailing the changes can be found here: www.asx.com.au/about/pdf/asx_circular_285_07_supervisory_powers_and_processes.pdf
The speeches can be found here: http://www.asx.com.au/about/shareholder/speeches/index.htm
