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BFCSA: ASIC needs an URGENT plan to SELF DESTRUCT. Regulatory Fraud Rife

Posted by on in Corrupt Regulators
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"Willbee" ASIC has lazily sat back and watched these BIG hitter liquidators ruin other people's lives for over a decade.  ASIC has just had another attack of the WILLBEES......"we will be getting tough!"  Yes Mr Medcraft and SO WILL WE.  We will be getting tough with you.  Expect a genuine letter of complaint to IOSCO about your neglect and why you need to be investigated for your role in our current and widespread secularization scams.  

We have "genuine and comprehensive" plans to ensure ASIC BECOMES a dismantled beast over the next 12 months.  It can no longer be trusted as a corporate regulator or a consumer protector.  Too many long lunches and dastradly deald under desks behind closed doors.  The media has seen through the ROT that is and inherent ASIC Corrupt Culture.  Ordinary citizens of Australia have been road testing ASIC for years with extremely poor results all round.  ASIC would have no idea what an ACTION PLAN looked like.    

Parliament must respond and bring this giant MONOLITH OF USELESSNESS, known as ASIC, to an inglorious end.  The sooner the better. For the Senators to continue to tolerate ASIC's existence is not helping the situation.  Get on with it and bring on the Royal Commission into Australian Sub Prime Lending and ASIC Cover Up.    This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • doyla66
    doyla66 Friday, 14 June 2013

    EXACTLY.. it is absolutely criminal

  • doyla66
    doyla66 Friday, 14 June 2013

    Stop tolerating ASIC - everyone - and demand the end to their well paid incompetence and illegal conduct.
    If the regulator is committing crime then it's all over rover - or should be.
    Why hasn't the Senate Committee pulled the plug on their life support?
    Stop financing those responsible for misappropriating Australian taxpayer contributions for the purpose of creating the illusion of corporate regulation and consumer protection.
    We've had years of pretend - Australians are very over ASICs permissive attitude to corporate malpractice. Too many cases to list. Too many complaints to handle properly. Occasional spurts of action from ASIC? That's neither good management or correct practice in corporate regulation.
    Senators, please don't wait on this ... too many people getting wrong advice, wrong decisions, wrong rulings due to wrongful action of ASIC staff. Happy to supply details if it will produce a real result: the end of ASIC, corruption and conflict of interest in so-called corporate regulation.
    ASIC capabilities in reality just managing business licencing - and even that's full of errors and corruption.
    Goodbye ASIC. It's over between you and the hardworking long suffering Australian public.

  • doyla66
    doyla66 Friday, 14 June 2013

    You took the words right out of everyone's mouth Lisa
    The occasional spurt of action from ASIC is their way of pretending they
    are busy protecting the consumers(that's their measley contribution). Thank God for Senator Cameron bringing
    Kell to heel and seeing through ASIC's ineptness. And many thanks to the other Senators as well.
    We all know ASIC is helping the banks get away with corruption, now the public is becoming
    more and more aware of how useless they really are.

  • doyla66
    doyla66 Friday, 14 June 2013

    I'm with you, Maria. :)
    There's something very wrong inside ASIC if they have to be regularly reminded of the basics of their job by Senators wielding a low voltage cattle prod - and by consumer direct efforts to correct, redirect and engage (good luck!) ASIC in complaints handling and solution finding. :p
    Turn up the heat, good Senators, before our lives are ruined by the incompetence of ASIC and the raw frustration of dealing with their ideas of just and fair conduct in lending and investment risk. At present the crooks are winning, hands down, thanks to ASIC. :(

  • doyla66
    doyla66 Sunday, 16 June 2013

    New rules should suit consumers BY:JOHN DURIE From: The Australian June 15, 2013

    ASIC's Chair-Greg Medcraft on $700k peddles misinformation that ASIC actually administers real-consumer-protection, --when in fact ASIC are clearly intent on actively 'turning a blind eye' to a Consumer-Home-Pogrom at the behest of their BIG End of Town Banker Mates. -- the "MacQuarie-Street-Gang", aka "The Med-Cartel".

    ASIC is actually accomplice to the Crime of the Century to steal every home in Australia conducted thru corrupt lawyers unlawful "home-invasions/repossessions".

    ps: Banksters tried that one on me -- unlawful possession (no court order) -- I sent them packing, there is this little common law that dates back centuries--- called 'trespass', then add for good measure, 'break 'n' enter', 'wilful damage to property', unlawful change of locks... -- abandoned all due process, typical wanker-bankers!

    BY:JOHN DURIE From: The Australian
    AUSTRALIAN Securities & Investments Commission boss Greg Medcraft, in his role as head of international regulatory group IOSCO, is looking at a radical change in financial regulation based more on the perspective of financial consumers and how they choose financial products.

    A potential model is the Financial Conduct Authority in Britain, which is aimed at setting standards through increased focus on consumer protection, market integrity and competition.

    John Durie: " In the meantime, the regulators are working out what is either a better pre-emptive response or maybe just some clever phrases that make it look as though they are on the job. "

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