The Australian Securities Exchange (ASX) has appointed Lucinda McCann as its new chief compliance officer. McCann, a lawyer and former general counsel at the Australian Prudential Regulation Authority (APRA), joins the exchange operator as it addresses ongoing governance issues. The ASX operates Australia’s primary stock exchange, facilitating the trading of shares and other securities, and provides listing services for companies seeking to raise capital.
Most recently a partner at Norton Rose Fulbright, McCann previously spent five years at APRA, leading the legal and enforcement group and overseeing the supervision of the banking, insurance, and superannuation sectors. She also held a general counsel position at AMP’s wealth division for over three years during the Hayne royal commission’s aftermath.
McCann will report directly to ASX chief executive Helen Lofthouse, succeeding Daniel Moran, who departs after 15 years. Lofthouse stated that McCann’s appointment reinforces the ASX’s commitment to policy matters supporting Australia’s public listed market, adding that McCann’s experience will build on the compliance team’s track record of monitoring and enforcing compliance by listed entities. The appointment occurs as the ASX deals with challenges, including a lawsuit by the Australian Securities and Investments Commission (ASIC) regarding market disclosures related to a technology upgrade and an ASIC inquiry into the ASX’s operational and governance structures.
