Sign Up
..... Connect Australia with the world.
Categories

Posted: 2024-07-03 07:33:51

The Australian Securities and Investment Commission (ASIC) is too focused on its own internal problems, too sprawling to carry out its duties under the law, and should be split into two separate regulators, according to a long-running Senate inquiry.

In its final report, the 20-month inquiry by the Senate Economics Committee found Australia's corporate and financial services regulator consistently fails to prosecute offenders, and it responds to most reports of alleged misconduct by taking no further action.

It found when the regulator did manage to take enforcement action, the civil penalties it imposed "were often at odds with the scale of the offending," and few criminal sanctions were ever achieved.

View More
  • 0 Comment(s)
Captcha Challenge
Reload Image
Type in the verification code above