The ASX is regulated by the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA). These independent government agencies have broad enforcement and regulatory powers regarding the governance of financial markets in Australia, which includes the ASX.
The ASX also has an internal compliance group that ensures it follows the regulations placed upon it as well as its clearing and settlement facilities. Because the ASX operates as an Executive Office it has the authority to levy enforcement actions against member companies that violate rules and regulations. ASX also has the power to administer enforcement actions independent of the ASIC and/or refer the violation to the ASIC if it requires deeper investigation.