head of compliance was the first move..

First 1385 Last

Share
Profile

Follow
dinyang

2,829 Posts.

156

10/02/22

13:44

Post #: 59485373
Share

Originally posted by Surfguy: ↑

Indeed, while I give it low probability ISX Fed Crt case and particularly the judges last demands for ASX to mount a credible defence may be the straw that broke the camels back.
If the CEO thought the case so immaterial that it did not warrant the market being informed against all norms then could it be possible he either assured the board that it was nothing to worry about or heaven forbid kept it from them. The order by Justice Davies makes this case material IMO so if the board asked the hard questions, like "what is your defence", and he had nothing it certainly leaves them exposed at a time the ASX can ill afford it.
Someone at the ASX may have finally stopped being a "YES" person and asked the "but what if" question. Like "what if we lose in court and it starts a chain of events we can't control?" You know like somebody in power wanting answers to ISX and Shareholders many questions themselves. And bringing in the AFP to raid ASX and ASIC offices to expose the documents that ASX say they can't find. We are getting to the pointy end now and the ASX may have just blinked.
There insurers must be getting nervous surely and not just about the size of the damages claim, the class action against ASX/ASIC will be far more damaging.
It may be the optimist in me but getting rid of Stevens may be the first move in the ASX finally showing some sense, let's hope so and they bring an offer to the table to end this thing.
I wonder if the way to cosy ASX protectors at ASIC may be next on the chopping block. Let's also hope so.

Expand

head of compliance was the first move..

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

HBF to throw 10% vote behind NDC BidCo's buyout of Pacific Smiles Group

I88

Large fault structure and uranium anomalies picked up by Infini at Newfoundland play

PH2

Pure Hydrogen inks MOU for 5 hydrogen buses in Saigon – days after Twiggy's FFI reeled back in

Biden's exit bakes in a Kamala Harris ballot while markets expect Trump to win. How could equities fare this week?

29M

High-grade copper results provide some relief to 29Metals after earlier mine shutdown

There are more pages in this discussion • 509 more messages in this thread...

First 1385 Last

Add SP1 (ASX) to my watchlist

head of compliance was the first move..

Top Stories

HBF to throw 10% vote behind NDC BidCo's buyout of Pacific Smiles Group

Large fault structure and uranium anomalies picked up by Infini at Newfoundland play

Pure Hydrogen inks MOU for 5 hydrogen buses in Saigon – days after Twiggy's FFI reeled back in

Biden's exit bakes in a Kamala Harris ballot while markets expect Trump to win. How could equities fare this week?

High-grade copper results provide some relief to 29Metals after earlier mine shutdown

Featured News