For any entity looking to list on the Australian Securities Exchange (ASX), the path to admission involves satisfying a range of conditions under Listing Rule 1.1. One of these conditions is Listing Rule 1.1 Condition 20, which requires that each director or proposed director, CEO or proposed CEO, and CFO or proposed CFO of the entity at the date of listing is of good fame and character.
In its Compliance Update of 2026, the ASX has provided helpful clarity on exactly how it assesses this requirement, and what factors it takes into account when an officer’s background warrants closer scrutiny.
What Does ASX Require?
For each relevant officer, a listing applicant must provide ASX with two key checks:
- A criminal history check
- A bankruptcy check
These checks, alongside a statutory declaration, form the foundation of ASX’s good fame and character assessment. Kinatico CVCheck provides both the criminal history check and bankruptcy check required under Guidance Note 1, giving listing applicants and their advisers accurate, accredited results for each officer who must meet the Condition 20 requirement.
Complete Your Screening Before the Listing Process Begins
The ASX’s guidance states “An entity interested in seeking a listing should make due enquiries prior to seeking in-principle advice on its suitability for listing or making a formal listing application and proactively raise any negative matters with ASX at an early stage.” This means entities serious about listing should conduct due diligence on their officers before seeking in-principle advice or making a formal application. Discovering an issue late in the process, or worse – having ASX identify it independently, puts the listing at significant risk, and “may adversely affect ASX’s assessment of the entity’s suitability for listing”.
By running Kinatico CVCheck’s criminal history and bankruptcy checks early, listing applicants and their advisers can:
- Identify any disclosable matters before engaging with ASX
- Allow time to prepare considered, contextual submissions where needed
- Demonstrate the rigour of their due diligence process
- Avoid the reputational and procedural risks of late disclosure
The ASX’s update makes clear that a disclosed finding doesn’t automatically disqualify an officer, but it must be understood in full context. The ASX will weigh a range of factors, including the nature and duration of the conduct, how long ago it occurred, whether fault was admitted, and whether genuine contrition was expressed.
This means that what is disclosed matters, but so does how it is disclosed and interpreted. A criminal history check that surfaces a prior finding gives the listing applicant the opportunity to address it proactively, which the ASX explicitly encourages.
Screen Your Officers with Confidence
Kinatico CVCheck’s accredited criminal history checks and bankruptcy checks are purpose-built for this kind of due diligence, giving listing applicants and their advisers the accurate, timely results needed to satisfy ASX’s Condition 20 requirements. Visit cvcheck.com to learn more about our screening solutions.
Sources
- [1] ASX Listed@ASX Compliance Update no. 01/26, 23 February 2026 — https://www.asx.com.au/content/dam/asx/documents/listings/compliance-updates/2026/listed-at-asx-compliance-update-23-february-2026.pdf
