helmel, one line of your post made my eyes widen....
Perhaps the commissions they earn from their funds under management are extremely lucrative?
Let me tell you something, guess who is the CEO of the ASX now ? Elmer Funke Kupper, and his previous employer ? TAH Tabcorp CEO for 4 years. He always makes sure the rich folks get richer, like the profession punters that got huge rebates as high as 10% through tote tasmania, which was at the time linked to supertab. Tote tasmania basically went broke, they rebated the ar$e out of the business...on a billion dollars turnover they showed a profit of a few million, basically covered their staff wages. The tradition continues on the ASX, hedge funds getting the green light to do as they please, when they please. Short Short Short and rort rort rort with algo's.
And Elmer showed some concern over the dark pools, but not enough to stop it.
p.s. Whilst i'm not a CDU shareholder, i do read posts here time to time and understand the frustration at the share price manipulation, it's happened to basically every stock i have held in the past, and the handful i have left now. ASIC are not fit to be regulators, in fact i'm here to tell youse that they need to front a Royal Commission into market rigging, and why they dont enforce the corporations act, can anyone else see any breaches here by these scum sucking financial terrorists ??
CORPORATIONS ACT 2001 - SECT 1041C
False trading and market rigging--artificially maintaining etc. Trading price
(1) A person must not (whether in this jurisdiction or elsewhere) enter into, or engage in, a fictitious or artificial transaction or device if that transaction or device results in:
(a) the price for trading in financial products on a financial market operated in this jurisdiction being maintained, inflated or depressed; or
(b) fluctuations in the price for trading in financial products on a financial market operated in this jurisdiction.
Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). For defences to a prosecution based on this subsection, see Division 4.
Note 2: This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see Division 4 and section 1317S.
(2) In determining whether a transaction is fictitious or artificial for the purposes of subsection (1), the fact that the transaction is, or was at any time, intended by the parties who entered into it to have effect according to its terms is not conclusive.
CDU Price at posting:
$3.20 Sentiment: None Disclosure: Not Held
