ASIC today released the findings of its latest assessment of the Stock Exchange of Newcastle Limited (SENL).

Under the Corporations Act, ASIC is required to conduct an annual assessment of how well SENL is complying with its obligations to supervise its market.

ASIC has concluded that SENL has adequate operating rules, structures and policies for the supervision of its market and for handling conflicts of interest.

However, ASIC has recommended that SENL should be clearer about how it will conduct hearings and other actions related to disciplinary proceedings, and that it should publish its disciplinary policy and arrangements to the market. In ASIC’s view, this step, together with other recommendations for improvements to policies and procedures, will enhance the overall supervisory arrangements that SENL has in place.

In April 2005, NSX Limited became the parent company of Bendigo Stock Exchange Limited, in addition to SENL. NSX Limited is continuing to make structural and organisational improvements to fully implement this merger.

Download the report or contact the ASIC Infoline on 1300 300 630.