This information is my own opinion, to my best knowledge. Supporting links are attached and because this is a senate enquiry these are allegations until proven.
https://www.news.com.au/finance/business/other-industries/asic-slammed-for-investigating-just-1-per-cent-of-alleged-breaches-according-to-new-report/news-story/18478b55984ae852b3d9ce6d4d4e7afbhttps://www.investordaily.com.au/regulation/52187-economist-makes-several-scathing-claims-against-asic‘ASIC must get better’: Watchdog to face two-year Senate inquiry into its handling of complaints
Hi JBT
There is that consideration BUT, there is a lot more going on in the background.
An economist called John Adams has made a submission to the federal government showing in a report that ASIC over the past 10 years and more has been a toothless tiger, achieving less and less successively over a decade now.
ASIC has been accused and shown to have appallingly low investigation rates with their own reports showing most cases being labelled
no further action even when those cases came from
auditors with accused admissions containing all the facts, furthermore that ASIC has a conviction rate that is in low single digits (Appallingly Low)
There is now a senate investigation into ASIC as to why it is apparently NOT doing its mandated job as the watchdog.
How does this affect Australian Mines.- This action against ASIC has only just begun and the management of ASIC will be ultra careful to not trip any more landmines while being investigated.
- ASIC will be putting their best most pursuant foot forward to mitigate further damage.
- Australian Mines has been caught up being in the wrong place at the right time when ASIC will be in damage control, ASIC will be pursuing everything to its full capacity including unresolved cases.
Ben, our mate has also been caught up being in the wrong place at the right time when
ASIC will be in damage control, ASIC will be pursuing everything to its full capacity and Ben is just a deer in the headlights.
I posted information on this matter previously, alas.
This information is my own opinion and contains links to supporting information.
RED
(20min delay)