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Australian Securities Exchange (ASX) Ltd has named Lucinda McCann as its new Chief Compliance Officer, effective immediately, as the exchange continues its multi-year effort to restore trust, stability, and efficiency. The appointment underscores ASX’s renewed focus on governance and compliance amid growing regulatory scrutiny and operational challenges.
McCann joins ASX from Norton Rose Fulbright, where she served as a partner, bringing more than 25 years of legal and regulatory experience. Her extensive background includes five years with the Australian Prudential Regulation Authority (APRA), where she was the regulator’s Chief General Counsel. She succeeds Daniel Moran, who stepped down in July after 15 years with the exchange.
The leadership change comes at a critical juncture for ASX, which is halfway through a five-year modernization program aimed at strengthening its technology systems and risk management framework. The program follows several high-profile disruptions, including a trading settlement delay in 2024, and has drawn scrutiny from the Reserve Bank of Australia and the corporate regulator. Both institutions have raised concerns about the exchange’s governance and compliance effectiveness.
ASX Chair David Clarke recently emphasized that the transformation initiative “cannot fail,” highlighting the urgency to deliver on long-term reforms designed to rebuild confidence among investors and regulators.
McCann’s appointment signals a strategic step in reinforcing ASX’s compliance culture and operational resilience. With her deep regulatory expertise and leadership experience, she is expected to play a pivotal role in ensuring that ASX meets its governance obligations while advancing its turnaround plan.
