Ann: Appendix 4E and 2019 Annual Report, page-159

ASIC confirmed that they did not instigate the investigation, and the company has written confirmation from ASIC that no investigation was on foot as of the 2nd October 2019, when the ASX suspended ISX.

Doesn’t leave much room as to who requested the investigation, given the timing, the general direction and the “consultation” that the ASX announced. ASX correspondence to ISX subsequently confirms this.

ASIC had already audited ISX under a routine sweep (of 200 companies) for revenue recognition for the 2018 financial year, per the ASIC announcement 7th Feb 2019. This included ISX compliance with AASB. You may recall that as a consequence of the Federal Court freezing some of ISX client funds were required to move these funds off-balance sheet. They announced that as did ASIC, as that was the only finding of the ASIC audit of their FY2018 books and accounts.

Note also that ASIC can direct a suspension under s794D of Corporations Act. They have not.

As confirmed by ASIC, the suspension is wholly at the discretion of the ASX

/back to doomsday prepping for coronavirus lol