cudeco(cdu) trading - representations, page-30

"1. How can such high levels of wash trades evident not be viewed upon with suspicion?

2. What steps have been taken by ASIC to ensure that these wash trades are above board?"

Maxw,

It is because ASIC has to be fully aware and conscious of what it is doing before starting legal proceedings.

If you are to look at today announcement for instance, about FMG and Twiggy, you'd soon realise what I mean.

ASIC has lost the case in all of the three major Courts in Australia including the full bench of the High Court, and it has been ordered to pay all costs. OUCHHH!!!

Now, can you see what I mean about ASIC, and as to why they shy away from these things??

Have a good read/look at the Corporation Act and all the regulations that are circumventing the ACT itself, and you will see as to why these things are happening. IMHO, there are too many loopholes in there, and it is open to the imagination and interpretation by anyone that can afford some good Lawyers, Barristers and SC's.

DYOR, as I have done mine.

Cheers,
Buddy