cudeco(cdu) trading - representations, page-38

Maxw,

Always a pleasure offering my help when needed.

As for the regulators part, I do agree with you 100%.
But, IMHO, they would have had to stomp on it from the beginning when it first become evident. And not when the gate had been left open and the horse has bolted.

I would doubt very much that they would do something to correct the wrong based on my previous comments, and also because it would cost them an absolute fortune in trying to drag all these "Big End Of Town People" with huge resources behind them through the Court, without any guarantees of success.

Look at what just happened with Twiggy and his case, and you'd soon know what I mean. That would end up costing ASIC an absolute fortune in Legals alone. Especially when they are ordered to pay all Costs incurred by FMG and Twiggy to defend their case.

Is it any wonder that ASIC will be watching very hard what they will, and what they won't do, in the future??

IMHO though, it is never too late for them (ASIC) to start changing the rules and then starting to strictly enforce them with huge penalties attached to them. And what I mean with "HUGE PENALTIES", I mean an amount that is not just simply "Symbolic".
At the same time they will have to put the ASX on notice that they will not stand putting up with crap from them either. Either they will tow the line or the same penalties, or even deregistration, should apply to them. Especially if they are proven to be aiding and abetting the practice.

Reason that I am saying all this, is because at least they would have good grounds of success if and when the new rules are released and properly notified to the sharemarket.

With the present system the whole thing is too "wishy washy", and with not many chances of dragginng anyone to Court with certainty of success.

Cheers
Buddy