planners relieved by report, outraged by asic, page-2

From that article seamisty: "Several readers focused their feedback on attempts by reputable financial planners to alert ASIC to ticking time bombs like Storm Financial before they happened."

Yep. Same criticism was targeted in the US at the SEC over the 'red flags' raised over Bernie Madoff.

ASIC should get out of the way of free market forces and immediately dump their dangerously inadequate AFSL system.