ASIC acted only when claims hit "tsunami level"BY LAURA MILLAN | MONDAY, 21 OCT 2013 11:50AMA 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." Related News |
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Hugh Killen
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For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.
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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.