Hi Wobbie The brokers who [basically] scam the system are not in...

Hi Wobbie

The brokers who [basically] scam the system are not in the slightest bit interested in accepting risks... their 'business' model is to set up as many deals as possible where they have access to free shares, cheap options [preferably both] and then to transfer the attached risk as soon as they can on to someone else. Their aim is to make a risk free 25%.

Sometimes, in that process, they will miss out on something special but the odds are somewhere around 100/1 against... since they are frequently only doing something dodgy with someone else who is dodgy and it's all P&D.

The ability to issue shares, when done for illegitimate purposes, is just as good as having a machine which prints money...

Apparently, the good people of ASIC have trouble seeing through such things. The ASX 'speccie' end of the market is a 'wild west'... [not that the top end is much better].