Ann: ASX Query Letters re ISX suspension & termination by Visa, page-113

It is a bit of a risk for the ASX and all a bit bizarre. Does also sort of rank of inconsistency and highlights other corporate governance failings across the ASX and its enforcement, regulatory bodies that are in the mainstream news for all the wrong reasons not to mention the major banks and financial services institutions.

I just saw comments regarding this on the ASX forum and was aghast.

I have never seen a global bourse do this. It is quite unique to Australia, this. I have not seen the NASDAQ or NYSE or LSE or TSX or SGX or HKEX ever get up to this sort of thing like the ASX did.

And there are corporate governance failings all over Australia by the looks, so it appears a little inconsistent? ASX underperforming like a domestic cat fending for itself in the wild.

ASX’s Kevin Lewis resigned, or as he stated to NEC’s media: “retired”.
ASIC’s Daniel Crennan resigned, he said he was going to retire in 2021, James Shipton of ASIC is under pressure to head back to Harvard, filing Massachusetts state tax returns, KPMG provides no comment.

Westpac’s Hartzer is going, NAB’s Thorburn is gone,
AMP’s Brenner and Salter are gone,
Westpac’s and Transurban’s Maxsted is gone (he is ex KPMG),
AUSTRAC’s ;Nicole Rose, ACCC’s Rod Sims and APRA’s Wayne Byres and their Boards are being audited and investigated by the ANAO.

Australian corporate governance is being butchered and slaughtered across the ASX. more heads have got to roll across the ASX IMHO.

And the old Chief Compliance Officer Kevin Lewis appears to have been replaced by an Attorney, or ex-Attorney-at-law as Chief Compliance Officer, Janine Ryan. That selection is extremely odd for 2020 and almost goes back to the 80s when attorneys could not get work in the law and tried compliance.

That selection of different horses for different courses IMHO led to the 1980s crash and previous corporate governance failings. Seems to be negatively hindering the old ASX IMHO.

ISX