db asked me to help him post this, it is two parts (hopefully it comes through with logic)
ASICInvestigation and enforcement committee
ASIC doesn’t have an emailaddress so send a copy by post to; ASIC,GPO,Box 98287,Melbourne,Vic,3001
This is what the ASICInvestigation and enforcement committee has to say about the subject of theirinquiry:
"1.8This inquiry hasreceived significant interest from the broader community, resulting in thecommittee receiving a considerable volume of submissions, correspondence andother documents. This evidence has indicated that there are broad community concernsabout ASIC’s role as an investigative and enforcement body for the financialsector.
1.9The committee has sought toexplore these matters by seeking information from ASIC about how it exercisesits investigation and enforcement functions. In doing so, the committee hasspecifically sought information about particular cases. Whilst the committeeaccepts that there may be a good basis for not disclosing detailed informationregarding open investigations, ASIC has not made a good case for not disclosingdetails for cases that have been closed.
1.10To be clear, the committeeis not interested in pursuing the records of open investigations, it only seeksto understand matters relating to closed cases. Accordingly, the committee hasaccepted ASIC’s claims of public interest immunity where questions on noticehave related to open ASIC investigations and has only pursued questions whereASIC has confirmed that a matter is closed.
1.11The committee finds ittroubling that instead of reflecting on and responding to this broad communityconcern, ASIC has instead chosen to hinder the committee’s work by refusing toanswer questions on notice. As shown in this report, the committee has mademany attempts over several months to obtain the information sought, some chainsof correspondence starting in December of last year.
1.12The committee has formed aview that ASIC’s refusal to provide this information is obstructing thecommittee’s ability to conduct this inquiry. As such, the committee has takenthe significant action of making recommendations that the Senate order theprovision of the information sought.
1.13The committee expects that ASIC take this asan opportunity to reflect on its conduct to date and to reassess how it willbetter engage with the committee’s inquiry in an open and transparent mannermoving forward."
Continued
