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ASIC’s defence: Why we didn’t investigate the RBA

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Australian Broker | 01 Oct 2013, 07:00 AM Agree 0
ASIC has defended its inaction against the RBA and its former subsidiaries, Securency International and Note Printing Australia, following serious corruption allegations
  • Andrew B | 01 Oct 2013, 08:44 AM Agree 0
    ASIC should NOT be bragging about putting people in jail for Trio as if ASIC did their job properly it would not have occurred in the first place
  • Rick | 01 Oct 2013, 09:29 AM Agree 0
    Yes Asic is happy to pick off these small time players, however this toothless tiger has no backbone when it comes to larger organisations. How much more serious can it get..UN sanctions, bribery..Govt orgs not only need to act in a proprietary manner, but must also be seen to be acting in such a manner... goes to show ASIC is such a lightweight in this field.
  • Papery | 01 Oct 2013, 09:49 AM Agree 0
    I saw the report on 4Courners & its pretty damning, albeit one-sided. With all amount of training & crap we go thru for AML & CT identification & reporting, here is a clear cut HUGE apparant breach & the powers that be are too scared to touch it. Hey ASIC, AUSTRAC & AFP you just keep targeting the small fish & let the big ones swim right thru!!
  • not so old broker | 01 Oct 2013, 10:20 AM Agree 0
    Sorry Andrew B, it would still have happened. It's like saying the police should stop a specific robbery. My question is "how?" when most people would not want them intruding into their professional &/or personal lives.
  • BJ | 01 Oct 2013, 10:55 AM Agree 0
    These comments are like water off the ducks back for ASIC.
    ASIC is and will always attempt to demonstrate to the public that they are on to the evil doers, and hammer those easily reached by the long arm of ASIC.
    As for TRIO Capital, well what about the Trustee mmm who could that have been and could they have been, well just a little large and connected, and the ones that actual got away with the funds. Sure the super sleuth ASIC got the BDM’s and a few smaller players but the real scum bags are working on tans in Phuket. Forgive me for me somewhat jaundice Greg Tanzer with your self-serving comments re TRIO Capital.
    Seriously does anyone honestly think for one moment that career bureaucrats would risk anything like taking on the likes the RBA Board and senior executives of our so called most respected institutions.
    The top echelon of public service and private boards are dominated by a fraternity that looks after their mates and for corporate governance, well if you watched 4 Corners than expect ASIC to continue on the same path chasing you brokers, because it’s topical and you’re an easy and sadly a vulnerable target. Gee Whiz I can’t pay my mortgage, I know lets blame, err the salesman did it!
  • Donut | 01 Oct 2013, 11:25 AM Agree 0
    I find it amazing that the official answer from Mr Tanzer, and he was "Crystal Clear" about it, is such a straight out political answer, that a real answer did not emerge from the spin. maybe this on-line magazine can send all these comments to the new Attorney General for his comments.
  • BJ | 01 Oct 2013, 12:04 PM Agree 0
    The Attorney General, God Almighty! George would say, “well it just a few dollars and um like the um boats, um it’s a passing irritation.
    The reality check is as follows:
    1. Australians have no voice;
    2. Australians have been so beaten they now suffer “PIF”, that is Post Institutionalized Fear. Dare you criticize anyone in power;
    Politicians should be called mirrors “we will look into it”.
    Oops two men in dark suites just knocked on my door!
  • Spin | 02 Oct 2013, 09:36 AM Agree 0
    Tell me please Greg - when ASIC looked at those 10,000 pieces of paper, were you looking for evidence of a crime, or looking for a way to shirk the issue? If only half of what was aired in the Four Corners programme was accurate, I cannot believe ASIC did nothing more than a bit of reading.
  • Greg | 05 Oct 2013, 01:48 PM Agree 0
    My guess is those 10,00 bit's of paper they looked at had numbers in the corners and pictures of Queens or Presidents on them, Didn't four corners go on to say that two of the scum accused of foul play now have positions in Government. Friends of Gillard, Obied, Thompson, McDonald. Cest Pool
  • SIDBROKER | 08 Oct 2013, 11:58 AM Agree 0
    Mr. Abbott. Would you please delete ASIC. We don`t need these people on our payrol any longer.
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