Copyright chanticleer AFR = can't read it. Also it is about wisetech according to link title.
Slightly different topic:
McExplorer - hope you read this post - look who has been posting today on Costa Group (A-S). Same poster for ISX, APT and Whitehaven ramping up AFR. I suspect, as I have done in the past, that person is actually related to SMH, AFR or some other 9EC publication. Obviously they could be trolling/looking for HC posters' comments to (lazily? poach?) incorporate some new twist or fabrication of information in order to produce yet another click-baiting, sensationalist, un-newsworthy article which we now know is very typical of a 9EC publication. Forget the 'poster's held' sentiment as that poster/or others have explained why they couldn't change it easily when sending from their Z-phones. [Z-phones = a zombie phone].
Different note: related however: I would never give 9EC or CKruger airspace so hence won't link or repeat Kruger's 19 Sept 2019 article re misinformed, maliciously construed content relating to ISX and CFD's and ASIC.
Recently - 21 Oct 2019/22 Oct 2019 - The Australian newspaper reports that ASIC has been challenged to change their views on CFD's, binary ops - (ASIC haven't yet changed their views and mightn't do so). Yet ISX was challenged yet ISX do not rely on CFD brokers etc for their capital growth or revenue in any event - ASX announcement).
The source of the latest challenge ASIC faces is in The Australian - I can't repeat in its entirety due to copyright. Author was David Rogers. The part I could access and repeat freely:
"An ASIC spokesman declined to comment. The Treasury — which will ultimately decide if any such product intervention by ASIC is passed into law — was “warming to the idea it could be too harsh”, said another source.
“Fintech can’t operate in a world that’s so uncertain that if they introduce a product that ASIC in an ideological way don’t like — operating perfectly legally — can be just wiped out.”
In August ASIC proposed a ban on the sale of binary options to retail clients and restrictions on the sale of contracts for difference after it found that retail investors had “suffered, and are likely in future to suffer, significant detriment” from trading the products."
------
The way I see it - overall there is a lot happening/changing in ASIC at the moment and with ASIC's new budget, new mandates, new staffing levels and very recently created hierarchical structure ... they, like APRA continue to struggle as government agencies with an 'entrenched yet challenged' Commonwealth Public Service mentality as they are now expected to provide a timely and reasonable level of service to clients - those clients being private or public enterprise corporations, companies and any shareholders.
ASX, usually (??) only want revenue from daily trading volumes - or so it appears - if not, why do they not halt trading or call suspensions more frequently especially when companies have been subject to the very recent onslaught of seller reports from the US and from OM, 9EC publications etc.
____
Why doesn't ASX or ASIC challenge some of the ASX listed companies controlled by the Chinese? Why doesn't 9EC challenge those same ASX listed Chinese controlled companies? Don't they want to upset the Chinese companies buying up ASX listed entities and/or Australian businesses??? I could list three such companies here but won't. ASX have not legislated that quarterly reporting is mandatory and hence some ASX listed Chinese owned/influenced companies only report annually. Some might if they wish to capital raise in order to purchase another Chinese owned Australian business within the 12 month period.
___
Patrick's posts do inform us of the changes (nationally and globally) and why there is the need for any government and government agencies to get it right for our future.
___
I am confident ISX will release an extremely positive 4C soon and with that we will receive an update re the suspension.
___
I believe that ISX have done nothing wrong (not erred) and also that ISX's business model and their success to date has been exemplary. Tall poppy syndrome and scumbag journalism has been intent on white-anting a true Australian success story. ASIC and ASX need to protect great Australian companies, Australian innovation and safeguard their success.
Expand
