ASIC is already totally useless and utterly incompetent. So now we have a regulator that will rely basically on proxy whistle-blowers to uncover corporate fraud . And what if these people do not come forward.? The PIF- RBOS fraud and other abuses of our fund would never have been uncovered if it had not been for hard grinding research and unwavering persistence by some very talented individuals . No whistle-blower in OCV ever came voluntarily forward to give evidence to ASIC . Remember three Auditors passed the PIF backdated loans as a genuine transaction.
Just watched the 'Wolf of Wall Street' mandatory viewing to fully comprehend just how far human nature can be debased in the corporate environment. And even this guy would never have been found out, but for the fact that he got unlucky with a Swiss bank account used to hide his ill gotten gains.
OCV
octaviar limited
