ASIC have admitted to a parliamentary inquiry that investors are...

ASIC have admitted to a parliamentary inquiry that investors are better off with a class action that relying on ASIC to do anything. But how do you sue a company with no money or a director with no assets? You can’t.

LWP Technologies is a good example of how ineffective ASIC are and why there are so many dodgy companies. They admitted to breaking the law and giving the ASX false info but still ASIC couldn’t find any evidence of any wrong doing. Fortunately Qld Police stepped in to lay fraud and money laundering charges but in most cases, there is no outcome.