That doesn't mean he lent shares to anyone, or borrowed shares from anyone, it just means he has some shares in the LLL company held in a NOMINEE account, you great Dork !!!
Go look up the meaning of Nominee accounts, we all have them, and then stop casting ignorant aspersions.
He's being honest by declaring it.
There are too many novices on this web site who know nothing about how the stock market works, or what the ASX forms indicate. or how to read any ASX forms.
However, I will admit that it is partly the fault of the ASX for not making ALL their forms clear and transparent, and easy to read, and obvious in their meaning, and partly the fault of the clowns (public servants) at ASIC for not having a clue about how to enforce the regulations and mandates.
There are a couple of things I would do.
Firstly, legislate that Australia is only permitted one (1) stock exchange, because it's easier to monitor and control and reduces the options for corruption.
Secondly, I'd nationalize the ASX, and put it under government control as a government department, and then I'd appoint 300 security analysts to monitor it.
I'd re-write all the regulations, and I'd ban Short selling.
I'd publish a list, open to everyone, of all the crimes and misdemeanors of any director of a public company, without anyone having to apply to freedom of information (which is crap, because they redact what they don't want you to see anyway : redaction = corruption).
I would deny any company to be listed under a certain market cap, so there are no micro-caps with criminals running them, because that is where the bottom-feeding scum hang out.
I would ban company directors from being allowed to set their own remuneration by way a remuneration committee - these are just a greedy joke. All remuneration would be set by a government authority.
I would ban all companies from having a business account associated with a tax free haven, and all directors from having the same.
I would only permit companies to have a certain number of subsidiaries, and these subsidiaries would only be allowed to occur one or two levels deep in a corporate structure.
I would reform all laws associated with trusts.
And there is a lot else I'd do to make the system safe and fair, and to protect mum and dad investors.
The entire system is completely broken, and totally corrupt !!!
Gw
Expand
