anz . discrimination, page-7

It's a huge mess. There are *villains* and *victims* here.

We all have our own ideas as to who the real *villains* might be, but lets leave that for the courts, the inevitable inquiries, etc.

I am prepared to accept that most (not all) of Opes Prime's clients are unwitting *victims*. A case of being at the wrong place at the wrong time.

I am also prepared to accept that those *victims* cannot be blamed for not reading the fine print. Nobody reads the fine print. I never read my loan agreement when I had a mortgage. I have never read Commsec's FSG.

But ultimately the authorities / regulators need to become much, much tougher. No matter what ASIC/APRA/ASX do, be it disclosure requirements, restricting who can solicit for investor funds, licencing etc, the spruikers always seem to win the arms race.

Perhaps they should take a leaf out of the SEC's book. The Yanks don't stuff around.


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