I think you're probably right, but at the same time, I vaguely recall a report they issued about only a few hundred reports are made each year. I think if people took it seriously, reported every half-obvious dodgy trading, they will eventually get more funding and resources to take things more seriously. Like reporting crimes in your area to police, although they often can't do much, funding is based on the amount of known crime. So it's not a fight against this one dodgy trade, it's a fight against ethics in Australia and the ASX in the longer term.
I do know of someone that made a report based on a similar circumstance, and ASIC required the company to write detailed responses. Whilst ASIC can't directly respond to the person making that complaint, it's clear that it probably was due to their complaint filed by the website. It was clear that the response, listed as an announcement on the ASX, would have consumed considerable resources to that company, and make them REALLY think twice before doing dodgy insider trades again.
So I totally agree with your perspective, but, I think you have to agree that unless we do follow through and make reports, then it's confirmed nothing will change.
On another note, I just sold my final package of LKE because although my holdings remaining is less than the cost of a night out, I wouldn't buy any more of them, the SP isn't going anywhere in any hurry, and I do have gains this FY I'd like to offset. The only reason I bought in originally was for a quick gain after a SP dump based on what I could see was a misleading report at that time, and sadly I didn't just take my profits and ran, I bought back in at half what I originally bought at. Sadly, this now means I'm on a loss overall with LKE.
Another reason I'm selling is because I like reading hotcopper to share useful perspectives with others, but the LKE threads are full of bullies, and sooooo much childish sh** slinging.
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