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ASIC to 'weed out' rule-breakers with surveillance

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Australian Broker | 28 Aug 2012, 08:00 AM Agree 0
ASIC is turning the heat on unlicensed operators with a new surveillance campaign
  • Daniel Blaine | 28 Aug 2012, 11:35 AM Agree 0
    ASIC is focussed on all the wrong things. Rogues should be eliminated from all areas of business. However while serial bankrupts can repeated rise from the ashes with new companies that will take creditors and consumers funds with no restrictions ASIC will focus on minor operators failing to follow procedures and complete forms. This is the usual mindset of a lefty labour appointee and Kell fits the bill.
  • Doug | 28 Aug 2012, 02:33 PM Agree 0
    ASIC have proven with this industry as with any other they will target the soft targets and fine them for minor infringements such as not displaying comparison rates because this is far easier and dollar productive than getting their hands dirty and tracking down the real criminals.
  • Broke broker | 28 Aug 2012, 04:18 PM Agree 0
    having ASIC and the watchdog for the financial sector is akin to making a drunk the designated driver. What real knowledge and experience do they have and what exactly was the basis behind the licencing system they have now put in place other than the annual renewal fee? Am i a little jaded? absolutely!
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