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ASX Appeal Tribunal

An independent peer review body to hear appeals against certain decisions by ASX.

The ASX Appeal Tribunal Panel currently comprises:

Chairperson

  • Simon Gray*

Other panel members

  • Daniel Pryor
  • Geoff Louw**
  • Kevin Lewis
  • Leigh Conder**
  • Simon Fraser
  • Valerie Kingsmill

*Also chair of the ASIC Markets Disciplinary Panel

**Also a member of the ASIC Markets Disciplinary Panel

 

Certain decisions by ASX under its Operating Rules can be appealed to the ASX Appeal Tribunal. These decisions include:

  • The issue of an enforcement notice against a participant in an ASX market or clearing and settlement facility, or the imposition of a sanction under such a notice
  • The suspension or termination of a participant’s participation in an ASX market or clearing and settlement facility
  • A refusal by ASX to admit an applicant as a participant in an ASX clearing and settlement facility
  • A decision by ASX to cancel or not cancel a trade executed on the ASX or ASX 24 market under certain provisions in the ASX or ASX 24 Operating Rules
  • A determination by ASX that a warrant issuer or AQUA product issuer has not met their liquidity support obligations under the ASX Operating Rules.

The specific types of decisions that can be appealed to the Tribunal and the process and timeframe for appealing them are set out in section 3 of the ASX Enforcement and Appeals Rulebook.

ASX has established an ASX Appeal Tribunal Panel of respected industry professionals with relevant skills, qualifications and industry experience.

Where ASX receives a valid notice of appeal against an appealable decision, the chairperson of the ASX Appeal Tribunal Panel will select three members from the Panel (which may include the chair) to act as the ASX Appeal Tribunal to hear and determine the outcome of the appeal. A person who participated in the making of the decision under appeal is generally precluded from being a member of the Tribunal hearing that appeal.

It should be noted that there is no right of appeal to the ASX Appeal Tribunal in relation to decisions by ASX under the ASX Listing Rules.