ASX Compliance

Function and operations

The primary function of the ASX Compliance section is to make the day-to-day decisions on the application of the ASX Market Rules, ACH Clearing Rules and ASTC Settlement Rules and to monitor compliance with the Rules.

The key activities of the ASX Compliance section are:

Structure

The ASX Compliance section comprises a Compliance Services Manager and a number of Compliance Advisers.  Compliance Advisers are compliance professionals (most are members of the Australasian Compliance Institute) with specialist experience in broking compliance, accounting, audit and securities market operations. Each Participant is allocated a Compliance Adviser from the Compliance Services function.

Approach to supervision

The focus of the ASX Compliance function in its supervision of Participants is to monitor their non-financial compliance with the Operating Rules, and to promote a compliance culture by closely liaising with the compliance teams and senior management of Participants.  Its approach is also to provide guidance to Participants about the application of the Rules and to encourage them to consult at an early stage.  This is reflected in the general approach of Compliance Services to monitoring compliance with the Rules.

Apparent significant breaches of the Rules are referred to the Investigations function.  Apparent significant breaches of the Corporations Act are referred to the Enforcement Unit for referral to ASIC.
 
For an explanation of the difference in the approaches of ASX Compliance and Investigations see Compliance and discipline.