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Does ASIC give a free pass to the big end of town?

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Australian Broker | 30 Jun 2014, 09:38 AM Agree 0
Does ASIC only take on small operators and leave the big end of town untouched? That's the criticism that was raised in the inquiry into the regulator's performance
  • Broker | 30 Jun 2014, 12:22 PM Agree 0
    "ASIC acts without fear or favour irrespective of the size of the organisation".

    Really?...time to take on CBA then.
  • Sticky Tape | 30 Jun 2014, 01:38 PM Agree 0
    Well, with David Murray heading an investigation into CBA, from a time when he was head honcho of CBA, what do we relly have to look forward to there??

    To my mind, it'll end up being another cover-up of some sort. Seems to be just typical of the corporate world we live in.

    Instills great confidence (NOT) in the system.

  • Lance | 30 Jun 2014, 05:55 PM Agree 0
    Nobody regulates the big enders, they set the regulations. If a small operator was charged with the financial planning fiasco that the CBA was, he or she would be jailed, but no, the CBA just shakes off the dirt and goes on. How about taking their licence?
  • Garry | 30 Jun 2014, 07:27 PM Agree 0
    We have been saying this for so long. This is simply proof that ASIC don't have the guts to take the banks on. They would rather attack brokers and then beat their chest so people think they are doing what they are paid to do.
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