What happened with ASX (ASX:ASX) and ASIC?

ASX has submitted a formal commitments plan to the Australian Securities and Investments Commission to overhaul its governance, leadership, and capital structure.

Why is ASX (ASX:ASX) changing its dividend policy?

To fund a mandatory $150 million additional capital charge imposed by ASIC, ASX is reducing its dividend payout ratio to 75% of profit, down from 85%. The company is also introducing a discounted dividend reinvestment plan to help accumulate this required capital by June 30, 2027.

Will this ASIC plan impact the ASX (ASX:ASX) share price short-term?

While the submission aims to rebuild trust, the reduced dividend payout and the $150 million capital charge may pressure the share price in the short term.

How are the clearing and settlement boards changing?

ASX is creating fully independent boards specifically for its clearing and settlement businesses to ensure they are not conflicted by the broader ASX Group interests. This includes establishing a dedicated division with its own resources to manage these critical market functions.

What are the key risks for ASX (ASX:ASX) investors now?

The primary risks are execution risk in delivering the required structural changes by regulatory deadlines and potential further regulatory penalties if milestones are missed. Additionally, the constrained dividend policy limits immediate cash returns to shareholders.

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ASX submits structural overhaul plan to ASIC

Written by Isaac FrancisPublished Feb 27, 2026, 4:30 AMLast Updated Jul 6, 2026, 10:44 AM

Market operator ASX (ASX:ASX) has submitted a comprehensive commitments plan to the Australian Securities and Investments Commission, outlining a major overhaul of its governance, leadership, and capital structure following a critical interim report from the regulator.

The plan aims to reposition the exchange operator as a trusted steward of Australia's financial infrastructure by implementing fully independent boards for its clearing and settlement businesses and establishing a dedicated division for these critical functions.

To bolster financial resilience, ASX is addressing a $150 million additional capital charge imposed by ASIC, partially by reducing its dividend payout ratio from 85% to 75%.

ASX Chairman David Clarke acknowledged that the company has not always met high standards, framing this submission as a critical inflection point to rebuild confidence through lasting structural change.

At the time of reporting, ASX's share price was $53.

ASX submits structural overhaul plan to ASIC

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