Not only that but the CEO and the Directors are not victims to...

Not only that but the CEO and the Directors are not victims to anyone under ASIC laws.

They should at the Board level review and signoff all disclosure information that we investors rely upon and ensure it is timely, informative and accurate such that there is a level playing field for investors with company information and its timed release.

Whatever came out of GAL days is sheeted home to all those who waved it through, CEO included. While GAL days were full of intrigue the legacy of the announcements made then are still accountable today to those directors and the CEO who signed them off back then.

If a CEO in any company wanted to distance themselves from their actions then well that would sit uncomfortably in my world as the big salaries are paid for professionals to get it right the first time, and not as best efforts, or by deferring to others.

I have been offered several Board positions in the last few years but declined as being a director is fraught with risk and personal accountability that you would only entertain in a squeaky clean operation. The recent AFR review that there are hundreds of Director and company prosecutions taking place in 2016 shows how senior employees can get into trouble with discharging their roles in a company whether by intent or ignorance.

When I hear on HC that there is a permissive culture of alleged casual conversation between company insiders and investors while at the same time as there being a perceived drought of useful disclosure to shareholders in formal channels I shake my head at how governance is understood and practiced here if that is what is taking place.