Talk about abuse of power (see below The limits on ASX’s investigation and enforcement powers. We all know how this works:
1. ASX asks ISX a question (often that insinuates a level of wrong-doing and often a question which about matters that are regulated by ASIC under the Corporations Actor the Market Integrity Rules – AND NOT ASX’s jurisdiction) under Listing rules3.1-3.1B
2. ASXsuspends ISX – because it can – under listing rule 17.5.-
3. ASX doesn't get the answer ASX is looking for and publicly requests “any information, document or explanation about that matter to enable ASX to be satisfied”… (but in ISX’s case, the answer does not suit ASX’s confirmation bias) under listing rule 18.7.
4. ASX publishes the question and answer to the market on MAP (along with badgering emails, petty argumentative emails…) under listing rule 18.7A
5. ASX suspects that a listed entity has committed a significant contravention of the Listing Rules, or that a listed entity or other person (such as JK) has committed a significant contravention of the Corporations Act (perhaps because ASX is just plain “pissed off” due to its perception of JK's arrogance because JK attempts, due to legal advice, to explain the question is not within ASX’s powers to investigate) and refers the matter that ASX wasn’t really empowered to investigate anyway (but only after printing their suspicions to the market on MAP - again under18.7A) to ASIC under Section 792B(2)(c).
How is this not outside the limits on ASX’s investigation and enforcement powers?
![https://hotcopper.com.au/data/attachments/2827/2827614-90842a1ebac505e80a3c51e9e5367912.jpg](https://hotcopper.com.au/data/attachments/2827/2827614-90842a1ebac505e80a3c51e9e5367912.jpg)