Since the Australian Securities Exchange’s (ASX) updated Listing Rules took effect in 2022, companies must ensure their designated ASX communications officer completes an approved listing rule compliance course and achieves a passing score. This requirement underscores the importance of governance expertise in maintaining ASX transparency and accountability.
Here, we’ll cover some of the most frequently asked questions regarding ASX courses, share helpful online resources, and offer practical tips to support your learning journey. If you’re looking for guidance beyond the course, our BoardRoom Team will also be pleased to assist as your nominated contact with the ASX.
What are the ASX listing rules?
The Listing Rules are a set of regulations that are applicable to the admission, quotation, and removal of entities from the official list of the ASX. This includes listings such as shares, REITs, infrastructure funds, and listed investment companies and trusts.
In order to be listed with ASX, a company needs to fulfil the minimum admission criteria, including structure, size, and number of shareholders. For more help with ASX listing, you can check out our comprehensive suite of pre-IPO services.
What are the changes made to the ASX listing rules?
The major changes made to the Listing Rules, which came into effect in December 2019, focus on improving the quality and transparency of the businesses listed on the ASX while also reinforcing safeguards for investors and boosting confidence in the market.
A few of these changes include:
- The form of market announcements and information required within released documents
- Additional monthly and annual disclosures for listed LICs and LITs
- Alterations to placement capacity rules
- New guidance notes
- Additional disclosure requirements for notices of meetings
For more details and information on the updated rules, please visit the official ASX Listing Rules website.
Who can take the ASX listing rules compliance course?
The ASX course is recommended for individuals who are, or intend to be, nominated ASX contacts. However, the course and accompanying test may also be undertaken by anyone seeking to enhance their understanding of the updated ASX Listing Rules.
When do I need to complete the ASX course and test?
Timing matters when it comes to the ASX course, and the deadline depends on your listing date or appointment timing. Here’s a quick breakdown based on your situation.
Existing listed entities appointing a new contact
For ASX contacts appointed between 1 July and 30 September 2022, the deadline to complete the ASX course and submit the certificate was 14 October 2022.
Entities to be listed between 1 July – 30 September 2022
For entities listed or relisted during this period, the deadline for the nominated contact to complete the ASX course and provide the certificate was also 14 October 2022.
Entities to be listed or relisted from 1 October 2022 onwards
For entities that list or relist from 1 October onwards, the nominated contact must complete and pass the ASX course test before the company can be admitted (or readmitted) to the official list.
You are the existing ASX contact for an entity
If the currently nominated ASX contact was recorded with the ASX as the Communications Person prior to 30 June 2022, then that person does not need to complete the ASX course or test to remain in that role.
How can I tell who a nominated contact is? How do I update the nominated contact information?
Log into your ASX Online account for your entities and go to the Directors / Management section. Nominated ASX contacts should be assigned the title of “Communications Person” in addition to their title at the entity. For example, if you are the Company Secretary, you should be assigned both the title “Company Secretary” and “Communications Person”.
ASX also asks that you separately email the Listing Advisor for each entity to inform them of any changes to the nominated Communications Person.
Online materials for the ASX listing rules compliance course
You can find the official ASX course materials on the ASX website, including both the learning modules and the exam link. These tools are designed to help you understand the key compliance obligations and prepare for the test with confidence.
Useful information about the test
Before diving into the ASX course exam, it’s helpful to know what to expect. We’ve summarised the key details below to make things a little easier.
- The ASX course consists of a test with 30 questions.
- Two questions from each module in the course materials and two questions directly from the listing rules.
- It is an open-book test.
- You can take the test as many times as needed.
- There is no time limit to complete the test.
- Your passing score will appear on your certificate.
- The test will take you approximately 1 to 1.5 hours to complete.
Next steps
Now that you’re across the ASX course requirements, it’s time to take action. Use the checklist below to make sure you’re ticking all the right boxes.
- Check and update the ASX Nominated Communications Person for each of your ASX entities.
- Take the ASX course and test.
- Provide a copy of the certificate to each of your Listing Advisors.
Why BoardRoom?
For companies considering an IPO, our pre-IPO services ensure you meet ASX requirements from day one. With decades of IPO listing experience across Australia and Asia, BoardRoom helps businesses maintain compliance while focusing on growth.
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