ASIC is a paper tiger. They just don't care. Don't wait for them to act, they claim they haven't enough funds to prosecute, yet run dopey cases. Recently they lost a prosecution against a broker who advised a client using "inside information" which was publically available in the printed media. It cost him over $500 000.
ASX is allowing retail investor to be scammed by hedgefunds, computor trading, short sellers, etc. Self interest.
I am now looking at all private investment. Why should I be "forced" by ASIC's SMSF rules to invest in Australian equities, while all theft from retail investors is allowed?
