Website fail puts ASX monopoly under scrutiny

“This [incident] highlights how important it is for consumers to have access to information,” Mr Matheson said. “Market data is critical, it should not be a monopoly.”

He said Australia should consider re-regulating the ASX’s stranglehold over company announcements, similar to reforms in the UK which allow companies to choose between a range of organisations to lodge mandatory disclosures with, such as newswire services.

ASX client and broker OpenMarkets agreed the incident drew attention to the ASX’s problematic monopoly status. “The industry is concerned that ASX has too much power to dictate play and there isn’t much of an opportunity for competitors to create a diverse environment that will ultimately benefit customers,” said chief executive Ivan Tchourilov.

However, he said the market operator was right to make changes to its previous archaic website and that these long-term benefits for investors would outweigh the “unfortunate teething problems”.

John Daly, chief executive of markets information provider Listcorp, similarly had sympathy for the ASX, noting it was a “huge challenge” to launch a new website. “We’re happy to help keep investors informed while the ASX beds down their new site,” he said, having stepped in to publish all company announcements on the Listcorp website ahead of a busy week of annual general meetings.

But many individual investors were unconvinced that the website changes were for the better. “The new site hides share prices and company stats behind a login,” said one regular ASX visitor. “How is that a better user experience?”

Others speculated that the new login requirement may be commercially motivated on the part of the ASX, with fears that personal data may be sold or passed on to third parties.

An ASX spokesman clarified that there is no commercial model associated with the website and that revenue previously garnered from advertising

China Tech to Face Even Closer Scrutiny From Global Governments

(Bloomberg) — China’s tech companies will face a tougher time globally as digital decoupling accelerates and countries with shared values join forces to promote their technology standards and ethics, according to a report from the Hinrich Foundation.



a circuit board: The Huawei Technologies Co. logo sits on display on an Apple Inc. iPhone in this arranged photograph in London, U.K., on Thursday, July 16, 2020. U.K. Prime Minister Boris Johnson faces a diplomatic minefield after banning China’s Huawei from the U.K.’s next-generation wireless networks, as Beijing accused him of breaking promises and Donald Trump claimed credit for the prime minister’s decision.


© Bloomberg
The Huawei Technologies Co. logo sits on display on an Apple Inc. iPhone in this arranged photograph in London, U.K., on Thursday, July 16, 2020. U.K. Prime Minister Boris Johnson faces a diplomatic minefield after banning China’s Huawei from the U.K.’s next-generation wireless networks, as Beijing accused him of breaking promises and Donald Trump claimed credit for the prime minister’s decision.

Moves by the U.S. against companies such as TikTok, WeChat, Huawei Technologies Co. and Semiconductor Manufacturing International Corp. are only the beginning of a deeper shift that will also see the European Union and international organizations rethink how they engage with Chinese technology, said the Asia-based foundation set up by U.S. entrepreneur Merle Hinrich.

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Australia, Japan and the U.K. have already followed the U.S. in banning Huawei from 5G networks. India has prohibited more than 100 Chinese apps including the video-sharing platform TikTok.

Read more: ByteDance, Tencent Apps Join TikTok on India’s China Blacklist

In August, the U.S. launched a so-called Clean Network initiative that aims to oust Chinese technology from wireless and digital networks on the grounds that it poses national security threats. The following month, China released its Global Initiative on Data Security that ostensibly calls for global standards for data security, but could also be construed as an attempt to deter others from signing up for Washington’s program.

“These actions have created an existential crisis for Chinese companies, which have come under fire as they are increasingly viewed as de facto proxies of the Chinese Communist Party,” said Alex Capri, a Singapore-based research fellow who

Germany to tighten scrutiny of telecoms network vendors: sources

BERLIN (Reuters) – The German government has agreed in principle to tougher oversight of telecoms network vendors that, while stopping short of a ban on Huawei, will make it harder for the Chinese company to keep a foothold in Europe’s largest market.

Coalition and government sources said on Wednesday that scrutiny of a vendor’s governance and technology would be extended to the Radio Access Networks (RAN) powering next-generation 5G services, in addition to the more sensitive core.

The sources confirmed a report in the Handelsblatt daily which said that, after two years of wrangling, Chancellor Angela Merkel’s coalition had agreed on a formula for how to handle so-called high-risk vendors in a proposed IT security law.

The compromise still needs to be drafted into a legal text, which Merkel’s cabinet is now expected to review in November, Handelsblatt reported, without naming its sources.

European governments have been shifting their position following pressure from the United States, which says the global telecoms network leader poses a security threat because, among other concerns, Chinese companies and citizens must by law to aid the state in intelligence gathering.

Huawei, based in Shenzhen, denies that it would allow its equipment to be used for spying.

German officials say that, while Britain has formally banned Huawei and France will informally exclude it, Germany will effectively strangle it in red tape. “The final outcome is the same,” one senior security official has said.

Germany’s three mobile network operators – Deutsche Telekom, Vodafone and Telefonica Deutschland – are all clients of Huawei and have argued that ripping out and replacing its equipment would be costly.

Market leader Deutsche Telekom’s 5G network in Germany, built largely with Huawei equipment, already reaches 50% of the population. By the time the IT Security law takes effect, it is expected to