ASIC to face parliamentary inquiry over CBABY LAURA MILLAN | THURSDAY, 20 JUN 2013 12:45PMParliament will launch an inquiry into the Australian Securities and Investments Commission (ASIC), after it was revealed that the regulator took 16 months to act on information that suggested serious misconduct in Commonwealth Bank financial planning. |
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David Sharpe
CHAIRMAN
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FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
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16 months! No way, try 36 months.
I lost money when I bought a business from a conman. ASIC knew about the activities of him and his partner, had done for years, but nothing was mentioned about him on their website. So much for due diligence. A couple of years later I saw the partner at a business fair, running the same scam again. I told ASIC, but nothing was done. It's about time ASIC was investigated, they are a waste of time as they are, and cannot be trusted.