twiggy decision - give me a break, page-39

"What I don't understand if twiggy broke any law why do they come after him 7 years after the event, why didnt they come after him when it happend in 2004."

prowiz,

I am with you on this one. But, IMO there are many good reasons for that, and we can't escape from that.

Firstly ASIC have very limited Resources and of course shortage of staff to look for everything that goes on in the market on a daily basis.

Secondly, before they take action, they have to prepare a case and make sure that they cross all the T's and dot all of the I's as well, in order that they could build a solid case against it. In order to do that, they would have to do proper research and search through all past judged cases that would have created a Precedent in their favour, that they have something that support their own doings.
In 99% of the cases, if not all, Precedents are there to support one's arguments, and unless some rules are changed there is no escape from that. That is a very long process. It has been known that a case has been won based on a precedent that was set and judged more than 250 years before in the old English Courts of the House of Lords.

And Thirdly, I don't know if you ever being involved into a litigation where you needed the services of a Lawyer, and why it always take years and years before it goes to Court. That is the system mate, and unless someone is prepared to throw all the books and rules in the fire and start again, it will never change.

I hope this help.

Buddy