Tag Archive : Scrutiny

/ Scrutiny

Website fail puts ASX monopoly under scrutiny

October 12, 2020 | website | No Comments

“This [incident] highlights how important it is for consumers to have access to information,” Mr Matheson said. “Market data is critical, it should not be a monopoly.”

He said Australia should consider re-regulating the ASX’s stranglehold over company announcements, similar to reforms in the UK which allow companies to choose between a range of organisations to lodge mandatory disclosures with, such as newswire services.

ASX client and broker OpenMarkets agreed the incident drew attention to the ASX’s problematic monopoly status. “The industry is concerned that ASX has too much power to dictate play and there isn’t much of an opportunity for competitors to create a diverse environment that will ultimately benefit customers,” said chief executive Ivan Tchourilov.

However, he said the market operator was right to make changes to its previous archaic website and that these long-term benefits for investors would outweigh the “unfortunate teething problems”.

John Daly, chief executive

Read More

    

Photographer: Andrew Harrer/Bloomberg

Britain’s top antitrust enforcer laid out plans for a new regulator, saying the largest tech companies would face scrutiny for any transaction, no matter how small.

Andrea Coscelli, who leads the Competition and Markets Authority, said he wanted to see a “special parallel regime” for the tech giants that have strategic market status. The new program could also apply a stricter test before clearing any deal, Coscelli said in a speech delivered remotely to a New York conference.

The CMA is increasingly voicing concerns about internet giants swallowing up smaller firms and the new system would automatically have oversight of deals like Facebook Inc.’s purchase of Giphy. The renewed effort to roll back the dominance of these companies comes as the U.K.’s departure from the European Union gives the CMA leeway to devise new approaches to antitrust.

“For me, the case for regulation is

Read More