Most change to the “status quo” is provoked from outside that system; it rarely comes from within, as most people/organisations don’t like change even if it provides greater and fairer outcomes for the general public. I feel as ISX Shareholders we need to make further contacts/ calls to unbiased media to force pressure for positive change and “shine the light” on the “real” reasons behind the ASX suspension of ISX. I suggest you call journalists rather than email first to establish a greater opportunity for them to take action. Ask for the journalists email address and follow up your phone call with an email outlining the discussion. The current and most highlighted issue is money laundering that some global banks, including Australian banks, continue to allow, even when there is a solution to discovering money launderers with the patented ISX KYC and settlement method as an example. I have outlined below some questions, articles and points to discuss with media and journalists. Links to recent media articles are also below. Please also continue to send emails, to regulatory bodies and politicians, some of those are also outlined below. Please be polite and put your name and residential address in your email. When you email also Cc all the parties you are emailing to in the same email, this creates greater accountability, the opportunity for an action in response to your email and a possible reply. Please use the below as examples only, please don’t just copy and paste, as we will gain a greater response when the Media and Regulatory Bodies see you as an “individual” rather than a distributed template. These actions, I believe can only help ISX receive fairer treatment from the ASX/ASIC.
There aren’t many impartial television programs that conduct investigations in Australia however 4 Corners seems to be the best. The Age has good investigative journalists, given that HC is a public forum I won’t suggest actual journalists however a google search “investigative journalists Australia” will outline them for you. Although it is only Victorian based the Independent Broad-based Anti-corruption Commissionhttps://www.ibac.vic.gov.au/are worth contacting. The more we call/contact these organisations the better opportunity we have to “shine the light” on why ASX have ISX in a protracted suspension without any evidence of “wrong doing” by ISX.
Below are some media articles for reference re Anti Money Laundering in Australia and other global banks:
https://www.abc.net.au/news/2020-09-21/leaked-fincen-files-reveal-international-banks-dirty-secrets/12673318
https://www.*.com.au/fincen-files-leaks-australia-banks-cba-macquarie-2020-9
https://www.abc.net.au/news/2020-09-24/fincen-leak-banking-sector-money-laundering-compliance-crime/12688848
Strong European Anti Money laundering Laws:
https://ec.europa.eu/info/business-economy-euro/banking-and-finance/financial-supervision-and-risk-management/anti-money-laundering-and-counter-terrorist-financing_en
Examples of Questions and Statements to ask Media & Regulatory bodies etc.:
Example Questions:
Why is Australia lagging so far behind the European Union in implementing Anti Money laundering Laws?
Why are the Australian regulators allowing the Australian banks to continue to let their customers launder money when Know Your Customer (KYC) and settlement methods to reduce or even stop money laundering are available?
Example Statement:
For example iSignthis (ASX: ISX) have “exclusive patented” methods to uncover money laundering, probably by the most thorough and fastest method available by any global payments provider, ISX have also proven the “know how” to effectively apply those patents. ISX are a profitable Australian “European Union E-Money Licensed payments provider” and conduct the majority of their business in the European Union and now in the United Kingdom with their Authorised Electronic Money Institution (AEMI) by the UK’s Financial Conduct Authority (FCA). For factual reasons unknown, ASX have ISX in a protracted suspension without any evidence as to why for 1 year. Of all the Australian and International Regulatory and banking authorities that ISX deal with in Australia, EU and UK, there is only the Australian Market Operator, the ASX that has an issue with ISX. Whether the ASX are continuing to hold ISX in a suspension from trading their shares because the ASX are trying to develop their own Know Your Customer (KYC) service or that ISX are developing Clearpay, a fast “block chain” based stock market trade clearing system in a joint venture with National Stock Exchange (ASX:NSX) is unknown. Maybe this is where the conflict lies as we are also aware that the ASX have been trying to develop an upgrade to their old Chess settlement service. The ISX/NSX Clearpay will also be one of the fastest settlement services for stock trading in the world and give stock traders greater assurance that their investment will be more protected from manipulation by "bots", "shorters" and "dark pools". It looks like Clearpay will be ready well before the old ASX Chess upgrade. ISX and NSX through their ownership of Clearpay will license Clearpay to other stock trading platforms around the world.
Example of some other issues to ask media & regulatory bodies:
·ASX - no evidence in their ASX Federal Court Defence statement that substantiates their protracted suspension of ISX and are relying on the ASX rule of “absolute discretion” to justify the ISX suspension.
·ASX/ISX Federal Court case -Does ASIC (or whatever other regulatory body you contact) agree that the ISX Federal Court $464,000,000 damages claim against the ASX's for misleading or deceptive conduct under s1041H of the Corporations Act is "not material" and does not substantiate a Market Sensitive announcement by the ASX? It seems in conflict with ASX’s disclosure policies that ASX claims that this is "not material". If so, will ASIC (or whatever other regulatory body you contact) make an announcement as to why it agrees, or disagrees, with the ASX on the materiality of the above damages claim? If the action brought by ISX is "not material", then does that set a precedent for all ASX listed companies that can be relied upon? As it appears that the ASX have not given any explanation to ASX listed companies, which is likely to lead to a misinformed share market when other ASX listed companies follow the ASX direction. Will guidance be issued by ASIC (or whatever other regulatory body you contact) in this regard for other public companies to assist them to determine "materiality"?
·ASX/ISX Conflict of Interest – Could still be a case for conflict and questioned further. For more information view gattertopPost #: 47827752
·ASIC/VISA - ASIC has been providing data gathered under s33 of the ASIC Act from ISX and giving it to the ASX. Is this a possible breach of the European Union Privacy Laws?
·Other Issues and Facts – many great posts from ISX Shareholders to research. View Truenorth Post #: 47853069for a recent overview.
Please also continue to contact regulatory bodies and politicians. The Select Committee on Financial Technology and Regulatory Technology have a hearing in April 2020 which ASIC must attend and answer questions. Great opportunity to raise the ASX protracted suspension of ISX with no evidence, the ASX not announcing the ISX Federal Court claim of misleading or deceptive conduct by the ASX and the $464,000,000 damages claim and that ISX have a KYC solution to reduce or stop money laundering in Australia. I suggest you CC Senator Bragg and APRA into the same email you send to Regulatory bodies and Politicians.
You can find a list of Australian Politicians on this website https://www.aph.gov.au/Senators_and_Members/Members
https://www.apra.gov.au/ email: [email protected].
Make a submission: https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Financial_Technology_and_Regulatory_Technology
Senator Bragg https://www.aph.gov.au/Senators_and_Members/Parliamentarian?MPID=256063
email: [email protected]
ASIC
Email: Nathan Bourne: Senior Executive Leader, Market Infrastructure
[email protected]
Australian Competition & Consumer Commission
www.accc.gov.au
Submit your issue on the ACCC forms: https://www.accc.gov.au/contact-us/contact-the-accc/make-an-enquiry