Alleged Breach by ASX
Melbourne, June 23, 2020 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) (TA8:FRA) discloses that the Company has made an application to the Federal Court to:
- Extend our Statement of Claim against the ASX to address the ASX's Statement of Reasons, and its veracity under s1041H of the Corporations Act.
- Introduce a damages claim for what ISX alleges is the misleading and deceptive conduct by the ASX under s1041H of the Corporations Act.
- Seek initial damages flowing from this specific issue in excess of $27 million.
The matter is scheduled for 9:30am 17th July 2020 to be heard by Justice Davies of the Federal Court.
To view the injunction and amended Statement of Claim (SoC), please visit:
https://abnnewswire.net/lnk/AL06NMK5
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.
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