cudeco(cdu) trading - representations, page-354

Hi CDU'ers,

The following is the text of a letter that I have forwarded to Senator the Hon. George Brandis SC,
Shadow Attorney General, concerning the trading of CuDeco(CDU) Limited securities on the ASX:


"CuDeco(CDU) Limited - Trading.

Dear Senator the Hon. George Brandis SC,


I have been corresponding with the Australian Securities and Investments Commission(ASIC) since 2011. I have been requesting a full Audit and Inspection of CuDeco(CDU) Trading, on the Australian Securities Exchange(ASX), especially on the 18th August, 2010; and an investigation into an unsigned document “F..... S...........”, circulated to subscribers at the time. A copy of the F...... document is attached.

The situation that I find myself in is that ASIC will not undertake to do the necessary Audits and Inspections on CDU securities for me.

ASIC claim they have conducted extensive enquiries and research, but will not undertake a closer examination with a full Audit and Inspection of CDU securities traded on the ASX on the 18th August, 2010. I have been left with the impression that ASIC appear to be protecting the ASX from a 100% examination of this day’s trading of CDU securities.

A “CuDeco Shareholder Research” document is being undertaken privately by another CuDeco shareholder. Reports completed up to the present time reveal a need for a closer examination of the matter. The latest Chapter in the research document which included three other companies in the ASX, revealed that the issues identified in relation to CuDeco are not just centered on CuDeco, but could extend to companies right across the ASX. The issues are enumerated in the attached correspondence.

The “CuDeco Shareholder Research” document can be availed of on



http://www.s......com/cudeco_research/collections

I have attached copies of letters which I posted to ASIC on the 3rd September, 2011,and the 26th October, 2011,with a copy of ASIC’s reply to me on the 18th November,2011.
I considered the response by ASIC inadequate.

Therefore, after reviewing further research material in the interim, I followed up my earlier representations with an e-mail, on the 26th November, 2012, and letters on the 6th December, 2012, the 9th March, 2013, and the 23rd April, 2013. Finally, I sent an e-mail on the 25th April, 2013. No replies to this correspondence have been sent by ASIC.

In addition, I have written to the Government on many occasions since 2011, on this matter. The Hon. Bernie Ripoll, MP, Parliamentary Secretary to the Treasurer, Parliamentary Secretary for Small Business, has written back and referred me to ASIC for a response to my requests. I have attached a copy of the last letter the
Hon. Bernie Ripoll, MP, sent to me on the 15th April, 2013.

I have also made representations to Senator Nick Xenophon, and Independents,Hon. Bob Katter, MP, Mr. Tony Windsor, MP, Mr. Robert Oakeshott, MP, and Mr. Andrew Wilkie, MP., for a Parliamentary Enquiry, unfortunately, without any success.

AS Shadow Attorney General, if the Coalition is successful at the forthcoming election in September, to form Government, you will have a mandate to provide expert support on the maintenance and improvement of Australia’s system of law and justice. Therefore,I would like you to take the matter up for me.

It is most annoying when the responsible Authority(ASIC) does not heed the call for a proper and though investigation, Especially, when in-depth research material is presented for examination and further attention. As an example, I requested ASIC to do a forensic audit of CuDeco(CDU) securities on the 18th August, 2010, and I was informed that the cost was prohibitive and, therefore, would not be undertaken by ASIC.

I understand the Government has provided ASIC with millions of dollars of extra funding for this type of exercise to be properly undertaken to detect manipulation of stock.

I would appreciate some positive action on this matter. Manipulation is rampant and hurting financially, many thousands of mum and dad investors, many of whom have Superannuation Funds invested in shares.

All that is required is a fair and honest market to trade in. The problem is endemic,and I feel that a Parliamentary Enquiry is needed to resolve this catastrophic problem in our share market. Also, it would be good for the financial running of the Nation.

Yours sincerely,

Maxw........"


Referred for the information of CuDeco shareholders concerned.

cheers,

Max