Something is very wrong. Is anyone watching? Does anyone care? Can this be another government screw-up?, page-75

....and 2 MONTHS LATER i got a reply , that i am sure is the same copy and paste to others.ASX do you really think we are that stupid to believe any of this, what you see as a reply , answering my questions to you ??? NOTHING , NO REASONS , ASIC DID NOT SUSPEND US...YOU DID !!!

I refer to your email of 23 August 2020 regarding the iSignthis Ltd (ISX) and ASX Limited (ASX) dispute, recent ASX announcements and ASIC’s role.

Suspension of ISX shares by ASX

Under the Australian regulatory framework, ASX is the frontline regulator for compliance by listed entities with their continuous disclosure obligations as contained in ASX’s Listing Rules. Each entity admitted to the ASX official list, including ISX, is contractually bound to ASX to comply with the Listing Rules. ASX has the power to suspend securities of an entity from official quotation under a range of circumstances. These include when the entity is unable or unwilling to comply with a listing rule, breaches a listing rule or where the suspension is necessary to prevent a disorderly or uninformed market.

In relation to the suspension of trading in ISX shares, ASX has provided several updates in relation to the suspension on its Market Announcements Platform since 2 October 2019. Amongst these updates, a ‘Statement of Reasons’ for the suspension was released on 30 April 2020.

We are also aware that ISX has commenced legal proceedings against ASX in the Federal Court and with that in mind, it would be inappropriate for ASIC to make any further statements while these proceedings are ongoing.

Supervision of ASX as a listed entity

As the ASX is a listed entity on its own market, ASIC, acting as the listing authority for ASX securities, is responsible for exercising the powers and functions that ASX has in relation to listed entities. This includes the monitoring of announcements made by ASX on its Market Announcements Platform.

These arrangements are in place to deal with possible conflicts of interest which may arise from ASX’s shares being able to be traded on the ASX market, and to ensure the integrity of trading in these securities.

In exercising the powers of the ASX, we take concerns raised about potential non-compliance with ASX Listing Rules seriously. Further, ASIC values the information and feedback we receive from the public, including in relation to its regulatory functions.

Thank you for bringing these matters to our attention. In line with ASIC's Information Sheet 152 Public comment (INFO 152), we only comment publicly on our activities in limited circumstances. These limitations are intended to protect the confidentiality of information reported to ASIC and the integrity of ASIC’s investigation and enforcement activities. For matters involving our market supervision, we are aware that any public comment may affect trading in the market, and we are committed to a fair, orderly, and transparent market.

Accordingly, ASIC is unable to provide further details about what, if any, action we may or may not take in relation to the concerns you have raised. We hope you can appreciate the reasons why we do not make such comment.

If you have concerns about potential misconduct by any entity, please provide further details to ASIC via:https://asic.gov.au/about-asic/contact-us/how-to-complain/report-misconduct-to-asic/.

Thank you again for raising these matters with us.

Kind regards
Lisa Kee
Senior Analyst, Market Infrastructure
Australian Securities and Investments Commission