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AAP
AAP
Business
Derek Rose

ASX shares slide to seven-year low after damning report

The Australian securities exchange has agreed to implement a series of reforms. (Steven Markham/AAP PHOTOS)

Shares in the operator of Australia's stock exchange have sunk to their lowest level in seven years after it was sanctioned by the market regulator for serious failings across its governance and culture.

The ASX said on Monday it would pay smaller dividends to raise another $150 million it was required to hold until the Australian Securities and Investments Commission is convinced it has reformed its ways.

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