ffirst 3 days of asic hearings

These were the Appearances or mentions:
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PUBLIC HEARING Wednesday 19 February 2014
Australian Securities and Investments Commission (Submission 45)
Mr Greg Medcraft, Chairman
Mr Peter Kell, Deputy Chairman
Mr John Price, Commissioner
Mr Greg Tanzer, Commissioner
Ms Cathie Armour, Commissioner
Mr Greg Kirk, Senior Executive Leader, Strategy Group
Mr Warren Day, Senior Executive Leader Stakeholder Services and RegionalCommissioner for Victoria
Mr Chris Savundra, Senior Executive Leader, Markets Enforcement
Australian Securities and Investments Commission
Mr Greg Medcraft, Chairman

CPA Australia (Submission 209)
Mr Alex Malley FCPA, Chief Executive Officer
Mr Paul Drum, Head of Policy

Academic panel:
Professor Dimity Kingsford Smith (Submission 153)
Professor Justin O'Brien and Dr George Gilligan
(Submission 121)
Dr Suzanne Le Mire and A/Prof David Brown (Submission 152)

Community and Public Sector Union (Submission 125)
Mr Alistair Waters, Deputy National President
Mr David Mawson, CPSU ASIC Workplace Delegate

Financial Planning Association of Australia (Submission 234)
Mr Mark Rantall, Chief Executive Officer
Mr Dante De Gori, General Manager Policy and Conduct
Mr John Bacon, General Manager, Professional Standards

Association of Financial Advisers (Submission 117)
Mr Brad Fox, Chief Executive Officer
Mr Marc Bineham, Vice President
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PUBLIC HEARING Thursday 20 February 2014
Law Council of Australia (Submission 150)
Mr John Keeves, Chairman, Business Law Section

Commonwealth Ombudsman (Submission 188)
Mr Colin Neave, Ombudsman

Financial Ombudsman Service (Submission 193)
Mr Shane Tregillis, Chief Ombudsman
Mr Philip Field, Lead Ombudsman, Banking and Finance
C
redit Ombudsman Service
Mr Raj Venga, Chief Executive Officer and Ombudsman
Mr Scott Goodison, Head of Dispute Resolution
Ms Allison Dam, Head of Policy and Compliance

Australian Institute of Superannuation Trustees (Submission 136)
Mr David Haynes, Executive Manager, Policy and Research
Ms Karen Volpato, Senior Policy Adviser

Industry Super Australia (Submission 201)
Ms Robbie Campo

Consumer Action Law Centre (Submission 120)
Mr Gerard Brody, Chief Executive Officer (possibly via teleconference)

Consumer Credit Legal Centre (NSW) Inc (Submission 194)
Ms Karen Cox, Coordinator

Banking and Finance Consumers Support Association (Inc) (Submission 156)
Ms Denise Brailey

PUBLIC HEARING Friday 21 February 2014
Mr Niall Coburn (Submission 282)
Professor Robert Baxt AO (Submission 189)

Department of the Treasury
Ms Dianne Brown, Acting General Manager, Corporations and Capital Markets Division
Mr Bede Fraser, Manager, Intermediaries and Regulatory Powers Unit, Retail Investor Division
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Out of the above, only SUB 282 is on the Investor side with this conclusion:

"The civil and criminal provisions under the Corporations Act (that were supposedly drafted to pursue criminal contraventions) are incapable of being used because of their cumbersome drafting and high onus of proof1. To my knowledge, there have been no prosecutions under section 601ED of the Corporations Act, even though millions of elderly investors have lost funds in fraudulent circumstances under these schemes. The entire managed investment chapters and contraventions need reform. As we have seen, this area is a recipe for disaster and does not protect investor interests." Sub 282

While from one of the rest, the bloodied Investor gets his dubious protection with this:

"An effective regulator working constructively with professions and stakeholders to identify
and respond to systemic or subversive risks is the least investors should expect for their tax
dollar. Yet, like those relying on the little boy who cried wolf, the real dangers facing investors may be missed or obscured by ASIC's ongoing affectations.
Alex Malley is the chief executive of CPA Australia sub 209
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Hmmm, ".... the real dangers facing investors may be missed or obscured by ASIC's ongoing affectations".
Any ideas "affectations" with whom?
I am slowly going through the rest of Corporate inputs for further surprises.

Regards,