Hi Danok,
Can I ask that you take the time to watch the below video following the parliamentary inquiry into ASIC. ASIC's primary objective is to convince people like yourself that they actually do regulate the Australian listed market as regulator. For anyone remotely active in Australia's listed market, the ASX is run like a side show (by the ASX) (can you hear the dancing bear music in the background..? Da da da da da da dah dah dah dah dah....
Australia’s Leading Expert Smashes ASIC!
ASIC is so inept in can't dress itself in the morning. Seriously, it investigated less than 1% of reports of market manipulation. Imagine what society would look like if police investigated only 1% of crimes that were reported. Hence, the ASX is the wild west. S792 of the corps act mandates a "fair orderly and transparent market". But how can a market be fair with dark pools (the unlit market, you only see the lit market when you look at the market depth... ASIC says that retail isn't disadvantaged by not seeing the unlit market...), flash trading... (doesn't happen according to ASIC), trading in non-marketable parcel sizes (institutional investors can trade in single shares... but retail must trade above $500, clearly there is no disadvantage in being forced to trade in parcels above $500. Except if you can trade in smaller increments, you can jump to the front of the queue and sell to your related party and control the market. When I questioned ASIC on this point their response was, "we don't view algorithmic trading in isolation but in aggregate over the day". My response was of course, "which retail investor is afforded the same treatment?" ASIC did not answer my question. There are numerous class actions against ASIC and the ASX afoot right now. Preliminary discovery however lets the perpetrators buy their way out of gaol by simply buying the plaintiffs' silence with a non disclosure agreement by paying them the money they want - then the gravy train just rolls on.
The gold desk at JP Morgan was caught red-handed manipulating the gold price over a ten year period and they were fined USD $920m - that was FIVE DAYS' PROFIT FOR THE GOLD DESK....
If you were caught robbing a bank of one million dollars, would a $20,000 fine be much of a deterrent? ASIC has enabled the biggest scam in Australian history by not enforcing the law - every Australian with a superannuation account is out of pocket.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$1.02 |
Change
-0.035(3.32%) |
Mkt cap ! $270.2M | |||
| Open | High | Low | Value | Volume |
| $1.07 | $1.07 | 99.5¢ | $7.961M | 7.814M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 17800 | $1.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.02 | 61036 | 5 |
View Market Depth
| Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
| APX (ASX) Chart |