Max,
with respect, you have again made a definitive statement in regard to the senate inquiry
"In the light of the report of the Senate Inquiry into ASIC, an important recommendation of the Senate Committee was for the establishment of a Government Inquiry to investigate the various illegal activities "
You also posted
"I don't think you will find the finite information in the material you have been reading."
what I have read is the senate report and the recommendations, you admitted last month you had not even seen the recommendations, so I am at a loss how you keep making definitive statements regarding the senate inquiry. A letter from a senator in 2013, in no way supports any claim you make about the outcome of the inquiry.
If you had read the report and recommendations you would have found
Recommendation 7
12.28 The committee recommends that the government establish an independent inquiry, possibly in the form of a judicial inquiry or Royal Commission, to:
- thoroughly examine the actions of the Commonwealth Bank of Australia (CBA) in relation to the misconduct of advisers and planners within the CBA's financial planning businesses and the allegations of a cover up;
- identify any conduct that may amount to a breach of any law or professional standard;
- review all files of clients affected or likely to be affected by the misconduct and assess the appropriateness of the compensation processes and amounts of compensation offered and provided by the CBA to these clients; and
- make recommendations about ASIC and any regulatory or legislative reforms that may be required.
This is the only reference in the report and recommendations to illegal behavior and a Royal commission. It has nothing to do with ASX share trading, it relates solely to the CBA's rogue financial advisers and planners. And I believe the govt did not have the balls to follow this up.
Here is a link to the report and recommendations, same link as I posted last month.
http://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/ASIC/Final_Report/index
So I am reading the definitive document in regard to the Senate Inquiry and recommendations, it is the ONLY source that matters here.
There is very clearly no mention of investigating share trading any where in the report.
As you have not read the report (by your own admission) it may be pertinent for yourself and the faceless background supporters to read this part of the report
Recommendation 1
5.80 The committee recommends that ASIC develop a multi-pronged campaign to educate retail customers about the care they need to take when entering into a financial transaction and where they can find affordable and independent advice or assistance when they find themselves in difficulties because of that transaction.
It is not by chance that this is the No 1 recommendation and I would strongly suggest that submissions such as yours and others from retail holders prompted this response from the Senate, which BTW was comprised of more than 50% non coalitions senators.
Max, in at least 6 attempts, you have not been able to support any of the statements you have made regarding the ASIC Senate Inquiry and you statements of fact change with every post.
Mods, this is not a flaming or baiting post. Max has 4,000 posts on CDU with easily 90% claiming illegal activities, so I feel that I have a right to post the facts regarding the senate inquiry.
