False information undermining ASIC integrityBY KERRIE SYDEE | THURSDAY, 8 DEC 2016 12:26PMFalse information and misrepresentations made to ASIC are undermining the regulator's integrity, highlighting one of several concerns in its latest licensing activity report. Related News |
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I fail to see how false information can be seen to be undermining ASIC integrity. Surely this is the job of ASIC and its licensing program. Finding out the shysters and scam artists before they get a chance to enter the industry, blocking their entry, and accepting those of good reputation who can then join the rest, doing a great job, with complete integrity.
ASIC should focus on meeting its service charter, not complaining because it has to do its job (refuse applications to non-suitable people).
ASIC had 36 months to prepare for this flood of applicants just like the rest of the industry and are now complaining because they didn't have resources for the last 12 months!
A more accurate set of statistics from ASIC would be the service charter statistics for each month of the program, not just focus on the last (fully predictable) rush to license.
That number would really show the efficiency of ASIC.