asic

Best of luck simgrund and I'll do what I can to help but just remember that Australia has a high tolerance for corruption. From the bottom to the top. That's the culture that you're up against.

Perhaps the following will help. ASIC's annual report for 2010-2011:

http://asic.gov.au/asic/pdflib.nsf/LookupByFileName/annual-report-2010-11.pdf/$file/annual-report-2010-11.pdf

There's a whole section on ASIC's 'achievement'. But no mention of PIF. That's despite the January 2008 PIF investors, average age over 60yo, sitting on a capital loss (i.e. not including the pre 2008 'distributions') of around $672M. Yep that's more than 2/3 of a billion.

Has ASIC had a bigger failing than PIF (wrt retail investors)? No? So then it's little wonder ASIC would want to keep a lid on PIF?

FYI have a look at pages 56-57 of the ASIC annual report.

They remunerate themselves well don't they?

Interesting also is the number of staff has dropped for every pay scale above an ASIC 3.