Second letter to Mr. Longo, Chair of ASIC, page-147

For once, by-and-large, I agree. Sunlight is the best disinfectant. Public servants have a responsibility to the public.

That said, if you want to piss off a cop, tell him you pay his salary. In a roundabout way, you do, but while the police work for us, they work for us as a whole - society - not us as individuals. A policeman's argument for pursuing one person, even if that person is a taxpayer, is that he's protecting society. This is also ASIC's role.

The problem we get to is privacy regulations - the ATO won't give a lot of information on a tax case because of JK's entitlement to privacy. Likewise, ASIC are unlikely to give much of anything, because even if JK is insulting them in public, he is still protected by privacy laws. They literally can't respond, and can't share information outside normal channels. Otherwise, JK can sue them. ASIC are doing this by process - in the courts. We've heard a lot of JK's side - we've only heard parts of ASX's side, and only really one document of ASIC's side.

I was honestly surprised that ASIC issued a public, written response to the ISX supporter letters. Clearly they had a few. I also thought that they put enough in there to read between the lines a bit though too. They are doing their job. They've reviewed it. These aren't 20 guys in an office together. ASIC are big enough to be able to review another team's work. That they put it in a letter means that they're very confident that they've dotted the I's and crossed the T's. Whether it convinces a judge, we'll see, but ASIC are quite confident that they've done everything by the book.