Financial Standard Comments - ASIC acted only when claims hit "tsunami level" A former employee of the Australian Securities and Investments Commission has condemned the fact that the regulator acted only when the volume of complaints "reached tsunami level." https://www.financialstandard.com.au/feed/latest?story=35527189 Mon, 21 Oct 2013 14:00:40 +1100 Mon, 21 Oct 2013 14:00:40 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by Gael Matteo (personal opinion)

ASIC had received many complaints about one man, and I lost money because I went into business with him. My due diligence showed nothing bad about him at all.

I saw a woman by chance who I knew was the partner of a known conman, and emailed ASIC the information about where to find her. I was ignored.

I'm sure I'm not the only one who has lost money because ASIC is not doing their job properly. It's about time something was done about them. Their information cannot be trusted.

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]]> Gael Matteo (personal opinion) Mon, 21 Oct 2013 14:00:40 +1100