Under pressure from not one but two Senate inquiries into the Australian Securities and Investments Commission (ASIC), the corporate regulator has finally taken action against the directors of the Sterling First rent-for-life scam.
The Sterling First fiasco proves the importance of the current Senate inquiry into ASIC, which is a once-in-a-decade opportunity to fix the pathetic regulator so it actually polices financial crime.
Senator Andrew Bragg established his Senate Economics References Committee inquiry into ASIC investigation and enforcement last October, seizing on the revelations of the Adams Report.
The deadline for submissions to the Senate’s ASIC inquiry has been extended to 28 February—submit your experience of ASIC failing to police financial predators.
To force the government to take on financial corruption, it is crucial that all financial victims with experience of ASIC’s failings make a submission to the Senate Economics Committee inquiry by 3 Feb
