'so what self interest do the regulating parties have ? what...

'so what self interest do the regulating parties have ? what benefit do they get out of ISX suspension ?'

Here is my humble opinion:

Origin of the story:
OM: Bespoke report benefiting shorters (the guys who ordered the report?). Huge share price volatility ensues.

AFR: Subsequent to the Wirecard scandal in Germany, and now this OM report, sniffed a 'Big Story', that might lead to fame for the reporter and extra dollars for the paper. Once on this track, the paper continues ridiculing the Company to the point of libel re money laundering.

Reaction of regulating parties:
ASX: 'OMG, what if there is something to this?' - Better investigate... Nothing found? - Well, that 'grates'. Let's suspend anyway, and run a wide-cast inquest to see if we find something.... Nothing found? - well, with a bit of spitballing we can create at least a reason for the suspension... Ah, and then the VISA termination happens. And is reported a day late, during the suspension. Aaaah, there there, a reason to suspend some more, our butt is covered.

ASIC: I think they were somewhat reluctant to get involved in this. I think their case was brought to back up ASX, so call that a conspiracy if you wish. I think it's a face saving exercise for the both of them. if there was no reason to suspend then they would have had to reign in ASX? As for ASX: 'look here, ASIC is taking them to court'.

The ten thousand shareholders were never considered.

Anyway, let's wait for the court's verdict.

All the above is opinion only, of course.