ASIC v ISX Hearing, page-3419

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NashaNasha

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21/06/24

20:35

Post #: 74433364
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Originally posted by Mariner985: ↑

Did the judge explain in the verdict why the market regulator spent so many resources on little iSX? I would guess 8 of every 10 listed companies would have listing compliance issues, so did he ask the question of ASIC, why did they decide to target iSX?

Tbh, I thought the verdict was inevitable, the judge was never going to look at the substance of the issue, which was the market wasn’t actually misled. Imo, if it came across that one person could say they were misled, that would be enough.

But I certainly think the bigger issue remains of why ASIC used resources to go after iSX. Does a layman looking thru ASIC’s budget and resources think going after iSX was kosher?

I wonder if ASIC count this as a success once they analyse it against their costs/resources. Or maybe they put high value on a pat on the back from whoever might have benefited from the verdict outside of themselves.

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At the end of the day, the ruling is done and ISX got slapped 2 out of 3. Any idea of the size of the fine? Seems like it's pretty obvious he will be banned from being a director in Australia from the ASIC press release. Next will be what will this do for the business in Europe. I would assume JK will move sideways and they hire a monster world-renowned CEO. Thoughts?

@jlo2012 I did miss the revenue call issue, I was in the office working and had other A4 sheets of paper annoying me lol.

SP1 Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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ASIC v ISX Hearing, page-3419

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