ASX told to beef up its boards' tech skills & were not fully informed of the progress of the CHESS replacement

https://www.itnews.com.au/news/asx-told-to-beef-up-its-boards-tech-skills-570575

This is very concerning considering the CHESS replacement platform has been delayed year after year and you would think during 2019/2020 after so many delays they would have really put their thinking hats on but no they didn't...The RBA said its interviews with directors uncovered "that there were periods during 2019 and/or 2020 when the ASX boards were not fully informed of the progress and status of the CHESS replacement program.

The RBA assessment went further, stating that the ASX chair “is considering the establishment of a technology project implementation board committee, [which] may include members who are not ASX group directors but have skills, experience, understanding and personal networks which can assist the ASX Boards in their supervision of technology projects"

However, the RBA went on to say that “the establishment of such a committee does not of itself discharge the responsibility of all directors to develop and maintain their understanding of all aspects of the clearing and settlement (CS) facilities’ risks and businesses."

https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2020-2021/pdf/report-2020-2021.pdf