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AAP
AAP
Holly Hales

Watchdog sues ASX Ltd for 'misleading' upgrade claims

ASX ASIC The Australian Securities and Investments Commission Joe Longo Australia
Australians lose when trust is abused and people mislead the market, the corporate regulator says. (Tracey Nearmy/AAP PHOTOS)

Australia's main stock exchange misled the market in relation to the progress of an overhaul of a decades-old information technology system, the corporate watchdog alleges. 

The Australian Securities and Investments Commission has filed civil proceedings against ASX Limited in the Federal Court over statements it made about upgrades to its post-trading clearing house platform CHESS.

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