No question,it's rife,Fb.Now,I've give ASIC the benefit of the doubt in the past because of under funding[deliberate,I suspect] But there have been instances where where a successful prosecution should have been mounted because the price fixing was so blatant.Ultimately,the politicians on both sides have to bear the blame.It'll be interesting to see the report of the Senate Standing committee on ASIC's performance when its handed down.It presumably will have recommendations and we'll see if they 're acted on in legislation, or whether the report will be buried like the previous one was, back in 2013[I think that was the date]. It's up to us to make sure it isn't. I understand there were many complaints about ASIC and Joe Longo's performance as head during the hearings.To be fair, ASIC was copping justified criticism well before J.L was appointed.
At the moment the ASX is the 'go to' for every looter on the planet. The amount of taxable income lost to predators,most, if not all of them, registered in offshore tax havens, over the years would 've built schools,hospitals,houses et al. I can't believe treasurers from both sides of the political spectrum aren't aware of this.
As for the current election campaigning, I believe only the Australian Citizens Party has a policy to abolish ASIC in favour of a more effective regulator.
db
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