Read it through, If ASX's letter is correct factually, ( which i suspect it is given that they have published it) The timeline looks pretty clear that ISX have been hiding the extent of the problems with VISA for some time, and clearly not disclosing the finality of the termination by visa in a timely fashion.
Why has this has dragged on so long! ASX knew! Continued to ask for full disclosure, but ISX was evasive at best! ASX didn't disclose before now because they needed to be careful legally, and maybe even they wanted to prevent a case for securities fraud, Class actions, etc etc.
The only question is that ISX was suspended october 2019. So the initial problems with transaction on the platform and AML concerns might go back that far! So we can still go back to that problem , but in the meantime it Seems like someone F'd this up big time!
Although I would argue that timely disclosure is not so critical when suspended!
Ann: ASX Query Letters re ISX suspension & termination by Visa, page-225
-
- There are more pages in this discussion • 325 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)