better hope the sell orders are not real, page-10

Smuggler,
How on earth can the ASX prove a bid is "false" in order to impose a penalty? They could never supply any evidence that would stand in a court of law.
If I put in a bid for xxx amount of stock, their is no way the ASX can prove I had no intention of buying the stock.
Quite simply any seller could have filled my bid at any time it was in the market. A bid for a couple of mio?, no sweat, any one of the Directors could fill that order at their whim.
As for the ASX actually telling you of a penalty they imposed. Then you must be thought very highly of!! When I raised an issue of what I considered misconduct, they told me it is not their policy to release the result of their internal investigations, let alone any penalty they may impose.