ASIC has noted today’s announcement by Australian Stock Exchange Limited (ASX) that the market supervision functions of the exchange will be centralised in a new subsidiary company.

‘This will create a clearer distinction between ASX’s supervisory and commercial functions’, ASIC Chairman, Mr Jeffrey Lucy said.

‘The ASX Board remains responsible for ASX’s obligations to regulate the market. The changes announced by the ASX today mean that supervision will be more fully accountable to the ASX board. There will also be a more explicit and transparent allocation of resources to ASX’s regulatory functions.’

‘We will continue to work closely with ASX in carrying out our respective market oversight, compliance and enforcement functions, and together maintain Australia’s enviable reputation for clean, fair markets’, Mr Lucy said.

ASIC does not propose to make further comment at this time, but will monitor over time how the changes impact on ASX’s market supervision responsibilities.