RBA Slams ASX Governance and Risk Controls Again
Australia's central bank has once again criticized ASX for its governance and risk controls. The Reserve Bank of Australia released its 2026 assessment on Wednesday, which found that one or more of ASX's facilities only partly observed requirements covering governance, comprehensive risk management, credit risk, and operational risk.
The RBA said it remains concerned that governance arrangements have not consistently given sufficient priority to the interests and obligations of the clearing and settlement facilities. Austraclear, the debt securities settlement unit, was rated partly observed against operational risk standards.
ASX has been operating under heightened regulatory scrutiny since 2022, when it scrapped a blockchain-based project to replace its CHESS clearing and settlement system. A string of operational disruptions led regulators to demand upgrades in governance, technology resilience, and risk controls.