Right.
ASIC, the regulator, expressed concerns towards ISX's books and records. Additionally, ASIC, the regulator, also advised the ASX that they were considering launching a formal investigation, which is now ongoing.
The ASX, the market operator, has the power to enforce listing rules through queries, suspension and power to delist. When the ASX received those aforementioned correspondence from ASIC, the regulator, what do you think would have been the most appropriate thing to do? To take it seriously, of course. That is exactly what the ASX did. The ASX suspended ISX, and launched their investigation while ASIC launched their own separate one. As a result of the investigation by the ASX, it found that ISX had broken multiple listing rules. I think people need constant reminding that ISX publicly announced that they welcomed the suspension and said that it was in the best interest of shareholders. ISX understood everything that was happening very accurately.
Now, quick question: what do you think the ASX should have done? Just let ISX continue to trade because you, other financially invested holders and ISX all want the stock to keep trading?
What do you think the ASX should have done?
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