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Ann: Application to ASIC to administer the listing rules, page-194

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itzgr82balive

2,243 Posts.

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26/10/20

12:43

Post #: 48385488
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Originally posted by ceviche: ↑

From @itzgr82balive......and his follow up with ASIC......
It is now clear....ASIC are not investigating ISX.
If they were investigating 'something' of concern to A***! or A4 or whoever expressing concern and doubt, they are not now.
Unfortunately their code of silence appears not to be in the public interest, there is no, "we were investigating matters related to revenue earned and performance rights, but that has ended" appears not to be regarded as something they ought to make public (if true).
If that state of addairs is accepted (even if disliked), what is left re ASIC's view of its role? IMO only the relevance of ADI, the implications of Flykk.
Those are just general oversight matters. ASIC's job is to be abreast of such matters.
SO ASIC by default are saying, yes we are taking note of what ISX are doing, because that's our job.
MY issue with ASIC is that its role should extend to oversight of ASX listing rules, the fairness aspect.
They don't see that. They did an agreement with ASX. It may be dumb, it may be hands-off, but they have effectively locked themselves in to that.
Hopefully the court will find for ISX. Hopefully the judge will comment that ASIC might want to get more involved in future.
At that time there should be a crescendo of public complaint to have ASIC take over the exercise of the listing rules.
Which is why HC posters should be writing to your MPs to make that happen.

It wouldn't hurt to have another ASIC accountability inquiry (the last was in 2013).

If only ISX were trading, i could sell some and re-balance up with more WBT/BRN/PAR/NUH!
(by selling some ISX at $3).

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Hi @ceviche, A great change might be to set a time-limit on an investigation, say 1 year, (and not the 2 year and automatically de-list!) and either the entity is prosecuted in court by ASIC or let the matter go. This infinite "investigation" and suspension is just plain wrong.

And ASX should not be allowed to keep a company suspended just because they are being challenged in court - especially when there is no means for challenging a decision by appeal.

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
14 Upvote

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