https://www.cfr.gov.au/news/2019/mr-19-05.htmlThe timing of this...

https://www.cfr.gov.au/news/2019/mr-19-05.html

The timing of this is coincidental. The Council of Financial Regulators (CFR) is includes APRA, ASIC, RBA and Treasury and advises government on matters relating to the financial markets. They released a discussion paper in November recommending a changes to the regulatory regime overseeing our financial market infrastructure FMIs (the ASX is part of that infrastructure).

The discussion paper is open for public submissions until 20 December.

Among the recommendations in the paper:

1. an acknowledgement that the regulation of FMIs lags international best practice.

2. empowering ASIC (ASX's boss) to make rules for Clearing and Settlement Facility Licensees (ie ASX) for the purpose of promoting the fair and effective provision of clearing and settlement services.

3. giving ASIC new information gathering powers with respect to the operations of CSFL's (ie ASX)

4. reviewing the monopoly power of CSFL (ie ASX)

5. an expansion and broadening of the fit and proper regime for key decision makers in CSFL's

Getting dragged into the Federal Court because you are alleged to have failed to fulfill your own operating rules isn't a good look when your boss is already looking to increase his oversight.