The compliance department in the ASX was originally formed to keep an eye on proceedings and maintain an orderly market. This was to protect the money invested by shareholders .
Their biggest fault is, that they don't mind observing a disorderly market when the stock price is getting hammered and shareholders are losing their lifes savings, but they become very narky when the stock price begins to rise and shareholders begin to retrieve moneys that were lost.
They are overpaid and serve no purpose because the role they play is totally inconsistent on a daily basis.
Anyone who follows the market on a daily basis could testify to this because they would have witnessed it first hand.
Their knowledge on how the market actually works is very limited. As a broker I had many discussions with them over the years and their competence in grasping what brokers were actually telling them was very poor.
That's the reality.
The compliance department in the ASX was originally formed to...
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