RBA Slams ASX Over Governance and Risk Control Shortfalls
The Reserve Bank of Australia (RBA) has expressed concerns over the governance and risk controls at ASX's clearing and settlement facilities, stating that they still do not meet expectations in several areas.
In its 2026 assessment, the RBA found that one or more ASX clearing and settlement facilities were only partly compliant with requirements covering governance, comprehensive risk management, credit risk, and operational risk.
ASX had established a Transformation Portfolio to address deficiencies in governance, capability, culture, and risk management, but the RBA said it still falls short of set expectations.
The central bank attributed this shortfall to ongoing issues with governance, technology resilience, and operational risk controls, which have been a persistent concern for regulators since the 2022 CHESS project failure.