I'm a bit conflicted here. I heard a member of the committee say that there was justification for a Royal Commission because their committee had so many submissions that they couldn't look at them all. On the other hand I think those people who lost money on their investments chasing high returns should take some responsibility for their own actions. If they didn't have a risk appetite perhaps they should have reduced their exposure to the share market and put more of their holdings in a savings account.
It would appear, though, that ASIC has been ineffectual.
Also when they do go after someone they could lose and end up wearing the legal costs of both sides.
