Link to SMH article about potential claim against ASIC by commonwealth clients.
If these cleints have a claim then why not PIF investors.
ASIC were informed that when WC sort mandate from investors originally the investors were mislead.
Told that a vote no was a vote for liquidation and 14 cents
The numbers talked about in terms of returns and recovery in value were impossibe as WC stated majority of funds were to be kept in mortgages where there is no capacity for growth. ASIC were told this and chose to ignore.
If ASIC had made WC provide all of the alternatives the outcome could have been far better.
http://www.smh.com.au/business/pressure-on-asic-over-cba-fraud-20130617-2oegh.html
OCV
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