<ul><li>The Reserve Bank of Australia (RBA) and the Australian Securities and Investments Commission (ASIC) express concerns over the management of operational risk surrounding the Australian Securities Exchange's (ASX) CHESS system.</li><li>The RBA downgrades its assessment of ASX's compliance with the 'Operational Risk' standard and reassesses the compliance of ASX Clear Pty Limited and ASX Settlement Pty Ltd.</li><li>ASIC directs ASX to engage an expert approved by ASIC to undertake a technical review of CHESS, focusing on stability and operational resilience.</li><li>Further regulatory action may be taken if the concerns are not addressed, including using the regulators' new powers and rulemaking under financial market infrastructure reforms.</li></ul>

RBA and ASIC Act Against ASX Following Concerns Surrounding Australian CHESS System

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