Ann: Montepuez Ruby Project - Update, page-97

You have to wonder what the staff at MUS were doing not realising the halt had not been implemented . So from 7am they never checked status at ASX website, didn't get a read receipt and didn't follow the lodgement with a phone call? Furthermore they then failed to notice opening bids and offers being placed and then seeing volume executed on both exchanged?? Not sure how sloppy their procedures or who is wholly responsible but a poor effort that allowed a unimformed market to trade.

Mustang IMO is not icomplying with continious disclosure and not in a timely manner

After the problems ASX had with people lodging false announcements and subsequent court case where parties where convicted they changed several things and all companies should have been aware and able to lodge officiual documents. The question is the the ASX is why wasn't teh filtered document manually checked. Why don't they have a VPN service portal where company officials can securely lodge requests and announcements- oh they do- well someone is at fault and from readings on there threads significant money was made and lost and seems the ASX and MUS are happy to cover each others Bums. ASIC who is responsible for the whole of market regulation should mandatory be informed ( self reporting by ASX and MUS) by ASX in such cases and publicly release the results of investigation and subsequent conduct. Refer your letter and reply to ASIC and see if they have been made aware and would be interested in their responses as they are the market regulator .

You could add further info that there is a uninformed maket still occurring and MUS notification accepted by teh SX that they will allow it to continue for 2 weeks more is ridiculous as all auction attendees and they mates know size, quality and value of remaining inventory and normal shareholders have not been informed. Market had 2 levels of information including that MUS management had told some holders there would be no trading halt and others that one had been lodged as well as no transparency as different participants had various levels of market sensitive information. The market is still not fully informed.


Supervision of domestic licensed financial markets
Key points
Following the commencement of the Financial Market Supervision Act, ASIC has assumed responsibility for supervising trading on Australian domestic licensed financial markets.
Australian market licensees will retain responsibility for monitoring and enforcing compliance with their market’s operating rules, which include their listing rules.
ASIC’s supervisory responsibilities
RG 214.20 The Financial Market Supervision Act amends the Corporations Act to provide that responsibility for supervising trading on Australian domestic licensed financial markets be transferred from the operators of these markets to ASIC. This change means that we are responsible for supervising trading activities and conduct of business by market participants in relation to Australian domestic licensed markets. These participants are subject to the market integrity rules and will be directly supervised by ASIC.
RG 214.21 The supervisory responsibilities that have been transferred to ASIC relate to trading on Australia’s domestic licensed financial markets. They do not extend to foreign-based markets that are licensed to operate in Australia under s795B(2) or to financial markets that are exempt from being licensed.

ASIC market integrity rules
Key points
The Financial Market Supervision Act provides for a new type of rule called the market integrity rules. The market integrity rules are made by ASIC and apply to market operators, market participants, other prescribed entities and financial products traded on a licensed market.
ASIC is responsible for supervising compliance with the market integrity rules. We are also responsible for granting waivers from the obligation to comply with a provision of the market integrity rules.
Our approach in making market integrity rules has been to not change the substance of the pre-existing obligations that apply to ASX and ASX 24 market participants at this time.
We intend to review the market integrity rules and will consult on future amendments.
What are the market integrity rules?
RG 214.27 The Financial Market Supervision Act provides for a new type of rule called the market integrity rules, which are made by ASIC.
RG 214.28 The market integrity rules are legislative instruments and will be subject to parliamentary scrutiny and possible disallowance by Parliament.
RG 214.29 The market integrity rules deal with the activities or conduct of:
(a) licensed markets;
(b) persons in relation to licensed markets; and
(c) persons in relation to financial products traded on licensed markets.
RG 214.30 The market integrity rules are limited to on-market trading.
RG 214.31 The licensed markets that are covered by the market integrity rules are Australian financial markets licensed under s795B(1). The rules do not apply to overseas financial markets that are licensed to operate in Australia under s795B(2).
RG 214.32 Market operators, participants in licensed markets and any entities prescribed by the Corporations Regulations must comply with the market integrity rules. The entity to which each individual market integrity rule applies is specified in each rule.
RG 214.33 The market integrity rules address matters that were previously covered in the operating rules of market operators. They include matters such as participant conduct, participant−client relations, general trading matters and transparency matters. We have created the ASIC market integrity rules for the functions contemplated by the transfer to ASIC of real-time supervision for Australian markets.'

asx company ann platform details
http://www.asx.com.au/documents/rules/gn14_asx_market_announcements_platform.pdf