Exchange Names New Compliance Chief Amid Regulator Pressure

The Australian stock exchange, ASX Ltd, has appointed Lucinda McCann as its new Chief Compliance Officer. This move is effective immediately. It comes as the exchange faces high pressure to fix its operations. ASX is now halfway through a critical five-year turnaround plan.

The exchange has recently seen several serious problems. This includes past trading delays and system issues. Furthermore, regulators have been closely watching ASX. Both the central bank and the corporate watchdog have criticized its governance.

ASX Chair David Clarke stated the improvement program “cannot fail.” This shows the urgency to strengthen technology and risk management. McCann has over 25 years of experience. She previously worked as a regulator with the Australian Prudential Regulation Authority. Her appointment signals ASX’s strong commitment to improving its regulatory compliance.