ASIC Commences Proceedings Against ISX and JK, page-581

What I find incredible about the whole Visa issue is that of the 36 pages of the ASIC SOC, exactly half are dedicated to the Visa suspension. This is an incident that happened a good 7 months into the ASX suspension, a time when the company was already being probed and examined by every man and his dog.

I also wonder, if the Visa 'incident' hadn't occurred would ASIC have even bothered?

Sure, the independent expert said there were deficiencies in the Visa disclosure, but given that ISX was already suspended from trading throughout the entire period how severe would a court find this breach to be? No one would have been impacted by it.

Of the gigantic bundle of allegations originally levelled at ISX by the ASX, it appears only a small subset of those have been accepted by ASIC as being worthy of pursuing, and is often the case, only a small subset of those remaining ASIC allegations would then be entertained by the court.