Government announces it will intervene in the ASX monopoly and hand regulators more powers

Australian

Government announces it will intervene in the ASX monopoly and hand regulators more powers

By DAVID ROSS

6:51PM MARCH 23, 2023

The federal government will wade into the Australian Securities Exchange’s monopoly, announcing plans that would hand great powers to intervene in disputes around the pricing and operation of financial markets to regulators.

The Albanese government on Thursday announced it would intervene in the trading and clearing operation as part of a major shake-up of Australia’s financial system.

Treasurer Jim Chalmers said draft legislation was aimed at “providing emerging competitors fair, transparent, and non-discriminatory access to market infrastructure”.

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