ASIC has a track-record of absolute failure in the area of consumer protection, there needs to be a change in focus from a reactive approach to a proactive approach. In this way schemes/scams such us Wattle, Heather Parry scheme, and off course Storm would have not got off the ground or at least the losses by investers would have been kept to a minimum. Instead of going on for years and years which in itself gives the scams/schemes more credibility.

As far as I am aware (and I have made enquiries) ASIC does not fall under any Ministerial portfolio, so who is eyeing ASIC?

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