ASX Names Lucinda McCann as New Chief Compliance Officer

Australian Securities Exchange (ASX) has named Lucinda McCann as its new chief compliance officer, stepping in to reinforce the exchange’s governance and risk management framework. The appointment is effective immediately, signaling ASX’s urgency to strengthen its operations amid ongoing regulatory challenges.

The move comes after ASX faced increasing scrutiny over its compliance practices. In June, the corporate regulator launched a probe into the exchange, following concerns raised by the central bank over governance lapses. The exchange has also been managing operational setbacks, including a notable trading settlement delay in 2024.

ASX Chair David Clarke recently emphasized that the exchange’s multi-year transformation program “cannot fail,” highlighting the critical need to modernize technology systems and enhance operational resilience. The program is now midway through a five-year plan aimed at restoring confidence in the market and preventing future disruptions.

Lucinda McCann brings over 25 years of legal and regulatory experience to the role. She joins ASX from international law firm Norton Rose Fulbright, where she was a partner, and has previously held key roles at the Australian Prudential Regulation Authority, including chief general counsel. McCann replaces Daniel Moran, who stepped down in July after 15 years of service at ASX.

The appointment of McCann is seen as a strategic step to reinforce ASX’s compliance culture and ensure that its transformation plan stays on course, amid rising expectations from regulators, investors, and market participants.