Storm Financial victims take class action against ASIC for negligence claiming it didn’t act when it knew risks
http://www.couriermail.com.au/busin...en-it-knew-risks/story-fnihsps3-1227163094086
http://www.smh.com.au/business/asic-must-step-in-on-behalf-of-pif-investors-20080911-4e5o.html
Unless the Australian Securities & Investments Commission takes a stand on behalf of the beleaguered 10,000 unitholders in the old MFS Premium Income Fund (PIF), these investors will lose the bulk of their savings.
Read more: http://www.smh.com.au/business/asic-must-step-in-on-behalf-of-pif-investors-20080911-4e5o.html#ixzz3MjC8JrkK
HMNNN, on notice ASIC