rogue planners: senate demands answers

FINALLY - have been waiting for this for >20 years
hopefully something will happen
not holding my breath though :(

"The corporate watchdog will face a Senate inquiry into its performance that is likely to embroil the Commonwealth Bank and raise questions about the effectiveness of new financial reforms.
A notice of motion was put in the Senate this afternoon by Nationals senator John Williams and supported by ALP senator Doug Cameron and Greens Senate leader Christine Milne, showing unanimous support from all sides of politics.
Senator Cameron said the inquiry into the Australian Securities and Investment Commission will be wide ranging, and given the scale of the problem, it is "appropriate for the Senate to investigate a range of issues including financial planners, the Commonwealth Bank and ASIC".
The motion, expected to pass unopposed, will be voted on in the Senate on Thursday following revelations in Fairfax Media that the regulator took 16 months to act on information from whistleblowers about serious misconduct inside the Commonwealth Bank's financial planning unit."

more here:
http://www.theage.com.au/business/banking-and-finance/rogue-planners-senate-demands-answers-20130619-2oir3.html