asic ,where does ther buck stop

It is know known that ASIC is aware that Algorithmic Trading can cause cascading shareprices=Post #: 7266374

And yet they have not made any apparent effort to put a stop to it

They may have the idea that as trading is International then nothing can be done

Bulldust

Australia is a Sovereign nation ,and can make its own laws

The private shareholders of Australia have lost hundreds of millions of dollars of their life savings because the A/T traders are manipulating the market

ASIC is supposed to look after the interests of shareholders and ensure that the playing field is level

As they have not done this would it be possible for the scores/hundreds of companies that have seen their share prices decimated by the A/T trading to get together and launch a class action against ASIC for breach of care/duty?