ASX Corporate Governance Council 'will remain'

The Corporate Governance Council of the Australian Securities Exchange (ASX) has claimed its role will not be altered if the proposed merger with the Singapore Exchange (SGX) goes ahead.

Speaking to the Australian, chairman of the council Malcolm Starr said the ASX "won't be seeking to change anything about how the council operates" following the merger.

Tim Sheehy, chief executive of Chartered Secretaries Australia, called for assurances the regulatory organisation will remain in place in an article published by the Business Spectator this week.

He claimed that Australia's whole framework of corporate governance is based on the continued existence of the council, which is comprised of 21 stakeholder groups including chief executives and institutional investors.

However, Mr Starr insisted there is "no incentive for any market operator, not just ASX, to jeopardise a corporate governance code that they've got in their community".

In a joint statement published on Monday (October 25th), ASX and SGX said the merger will create the second largest listings venue in the Asia Pacific region with more than 2,700 listed companies.