Ann: ASX Query Letters re ISX suspension & termination by Visa, page-65

@St1nky
I say, judge when you have the full context. In any case, why does ISX have to disclose Visa's opinion about its AML practices? Especially if those opinions are baseless? ISX has strong evidence to the contrary, i.e. regulatory confirmation and independent audit's supporting its practices and it's client base. Does that not hold more weight than VISA's opinion? FWIW, I think VISA has the right to choose to do business with whom it wishes. This is a matter of risk appetite. However, advancing this agenda whilst in contractual dispute over anti competitive behaviours, certainly undermines the credibility of the accuser.

Speaking of which, what was the purpose of this disclosure by ASX? To inform the market? What market? The company is suspended. In my opinion, it's a blatant attempt to provide a post hoc rationalisation for the October 2019 suspension. Clearly set up to strengthen their defence and mitigate their losses. Let's not forget that the VISA relationship soured due to the suspension in the first place:

ASX can't justify their initial suspension but publishes an opinion piece, which leads to a souring of a relationship with visa (due to reputational damaged caused by allegations about ISX merchants), which then ASX uses to justify the suspension? We'll see how that holds up.