Okay, there is one potential way we "might" be able to get ASIC to at least start doing something about these flogs.
We can either all sit on our arses and bemoan we've done our dough, or we can at least try and get some accountability.
Cormann has recently been taken to task over how the "tough cop" ASIC is useless. There is some political sensitivity there.
I've worked in and around Govt for many years and can confirm that letters to Ministers ARE forwarded to the responsible department/agency for comment/review. A response has to then be forwarded back to the Minister's office to close the loop.
I am not suggesting this will magically fix FAS. Clearly these flogs are dead and gone. But they should be held accountable.
What's important, though, is that as many of us write. One letter will be politely batted back, but 10, 15, 30 etc etc will get attention.
All we need do is point to the latest ASX communication/and FAS response that clearly shows these flogs can't pay their bills, and haven't been able to since at least 2013.
At the very least, ASIC would need to explain to the Minister why they are doing nothing.
FAS Price at posting:
0.4¢ Sentiment: None Disclosure: Held
