Normally in business insurance and indemnity becomes impossible to purchase but since there is no regulation I guess they never pay out so they just write insurance to anyone regardless of history. Usually declarations of any proceedings against yourself or companies you have been involved in or interactions with regulators would be application criteria for it t be valid. Makes you wonder also that auditors are willing etc
ASIC should if IMO they were doing their job have a closer look at Dir and representatives of any company they are watching closely for rest of their lives.
I wonder what performance numbers are being claimed for prior funds this time!!!!
ASIC is just sad as shown by Royal Commission IMO and they should be barred especially by making non public binding agreements with companies or industries a s a whole
