ASIC has shown its systemic incompetence, page-5

Another example of ASIC's incompetence or were they reluctant to investigate the 'Grimm Reaper' because his wife was employed as a lawyer by ASIC at the time?? Whatever, it does further demonstrate that there is little protection/action achieved by the so called regulator. How many more years will it take for ASIC to act on the thousands of complaints relating to misconduct with the management of the Premium Income Fund and prosecute anyone who is proved to have acted negligently or breached the corporations act??

http://www.smh.com.au/business/asic...t-more-than-10-years-ago-20150511-ggyv6d.html