ASX (ASX:ASX) said Wednesday the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA) have agreed to the company's revised transformation plan to address governance and other shortcomings flagged by an ASIC inquiry.

This revised plan includes a redesign of workstreams, delivery approach, and target outcomes centered on five core enterprise priorities, including culture and leadership, risk transformation, operational resilience, resource sufficiency, and governance.

"The reset gives us a clearer definition of success, links our activities directly to measurable outcomes and ensures the program sets the right ambition for ASX while also being aligned with regulatory expectations," said ASX Interim CEO Darren Yip.

The company is starting to implement the revised plan and has engaged consulting firm Promontory to assist with the process, it said.