Yes there is a lot of hot air said about making improvements to the public markets, but they never amount to anything. Pollies are no better. There needs to be a groundswell of outrage before ASIC will lift a finger.
In a word, what is practiced on the ASX is APARTHEID. A financial apartheid where there is one set of rules for the 'market maker types' (banks/hedgefunds/algo traders) and another set of discriminatory rules for the retail end.
This is perpetuated at all levels: Government, ASIC, ASX, Retail brokerages like NAB/Westpac/Commsec etc.
Hard to see it changing without a bloody revolution but it is not illegal to keep pointing out the injustice of the current public market system.
