ASIC would be very, very wary about taking the compliance management of ISX away from the ASX, I just couldn't see it happening. Firstly, it would be hugely damaging to the ASX's reputation, and not something you would do lightly. Secondly, it sets a precedent that could encourage every other listed coy that's having a beef with the ASX to scream for ASIC to intervene. IMO, ASIC would be very happy to sit back and let the court case run it's coarse. If the ASX is found by the court to have acted fair and reasonably, then no problem. Otherwise, if the court finds in favour of ISX, that's also less of an issue for them, because any action ASIC take would then be off the back of a court ruling.
ISX Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
