The failed attempt by the Australian Stock Exchange (ASX) to replace its Chess settlement system with a blockchain-based alternative is set to be investigated by the Australian Securities and Investments Commission (ASIC).
The US$170 million project was first announced back in 2015, making it one of the first large-scale implementations to involve blockchain technology.
However, after a series of delays, the project was eventually abandoned in 2022. The ASIC investigation will centre on whether the exchange’s directors breached their due diligence obligations under Australia’s Corporations Act.
The regulator will also be examining whether there was misleading or deceptive conduct or if false documents were produced.
The exchange released a short statement in response, stating that it “takes its obligations very seriously and will cooperate fully with ASIC”.
©2023 funds global asia 
At times like these, HSBC Asset Management easily pivots towards emerging markets.
The spotlight on growth markets and the need to be nimble and dynamic is ever-sharper, given the difficulty in predicting monetary policy in the world’s major nations.
A comprehensive, cost-effective, and transparent currency overlay hedging solution is crucial to mitigate FX exposure risks in the complex landscapes of Japan and China's FX markets, explains Hans Jacob Feder, PhD, global head of FX services at MUFG Investor Services.
Ross Dilkes, fixed income portfolio manager at Wellington Management, examines the opportunities and risks for bond investors presented by the region’s decarbonisation agenda.
Shareholders in Japan no longer accept below-par corporate governance standards. Changes are taking place, but there are still areas for improvement, says Tetsuro Takase at SuMi Trust.
Robert St Clair, head of investment strategy at Fullerton Fund Management, explores the reasons investors should be paying attention to the rising demand for healthcare in China.
China's internet market presents one of the most compelling long-term growth potentials for investors today, given the catalysts supporting the sector from both macro and fundamental perspectives, explains Dr Xiaolin Chen, head of international, KraneShares.
