cdu likelyup soon in senate inquiry into asic, page-31

So Max ASIC imho can no longer give total support to HFT…….

"The revelations put renewed pressure on the corporate regulator, which is already facing criticism over its ­failure to rein in Commonwealth Bank's rogue traders, uncover corruption allegations against Leighton ­Holdings, seek a jail sentence against former Gunns ­chairman and convicted insider trader John Gay or ­pursue a case against the David Jones board for suspicious director trades.

Investors are also still seething over voluntary fines agreed by the Australian Securities and Investments ­Commission with UBS and National Australia Bank – announced on Christmas Eve.

The fines came after NAB was revealed as the mystery client behind a shock spike in major blue-chip stocks on October 18 last year.

Retail investors and brokers have also contacted the Financial Review concerned that ASIC is now backing down from earlier comments that it would clamp down on high-frequency trading if the controversial practice grew unrestrained."

Also remember the big Australian Super Funds recently complaining about being ripped off by the people behind HFT……they could easily be talking hundreds of millions of dollars here….imho

So because the ASX appear elated about HFT …..plenty of conflict of interest dollars through the door…..ASIC have been more than happy to see Australian stocks LIKE CDU….being ripped apart…..right up until now….imho

So in Europe:
"European Union lawmakers are poised to approve some of the toughest restrictions in the world on high-frequency trading, the first crackdown in the aftermath of Michael Lewis’s latest book, “Flash Boys.”
NOTE: BUT no mention of any SUING…..YET!

America today:
"Bank of America Corp., the New York Stock Exchange and Virtu Financial Inc. are among the dozens of exchanges, brokerages and traders sued over high-frequency trading by the city of Providence, Rhode Island.

The city sued today in Manhattan federal court, claiming the defendants rigged the securities markets to divert billions of dollars each year from the buyers and sellers of shares to themselves….."

imho The Senate will now expect ASIC to ALSO sue HFT's. PLUS our huge super funds will want their ( OUR) money back…..CDU share holders like hundreds of other company shareholders are also entitled imho to be compensated………hopefully no win no fee solicitors like Slater and Gordon can immediately smell blood and start group actions.
imho the tide is finally turning.

I also hope this sensational American news panics our shorters into getting out and staying out of CDU ….plus WM wouldn't it be great timing to throw another log on the fire…..like DSO sales/income news early next week would be perfect….to do your bit to maximize the pain.