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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Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
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.