CHOICE membership

ASIC's 2019/20 priorities

ASIC has outlined its upcoming priorities for the next year, including a focus on insurance and superannuation.

https://asic.gov.au/about-asic/news-centre/speeches/keynote-address-financial-services-council-summit-2019/

5 Likes

Nothing there about increasing staffing or resources, therefore they will have to diiminish their resources in other areas to re-allocate staff to undertake these new foci.

Nor is there anything about extra funding to cover the costs of the court cases that they are losing (too often). That money has to come from somewhere too.

3 Likes

Looks like ASIC has actually been busy lately.

This should be interesting to follow.

2 Likes

The ASIC boss steps aside pending investigation into his $118,000 tax advice bill.

Ok folks. Move along. Nothing to see here.

1 Like

Right. Any politicians out there. My vote next Fed election will go the party that promises a very big funding increase to the Auditor General and the office. They are actually doing a good job in exposing these snouts-in-trough pigs wasting our tax dollars. Oh, and I want a Federal corruption commission for Christmas too.

Back when Greens/Labor formed government one of the actions demanded by Greens was a Parliamentry Intgerity Commission or similar. Unfortunately it never got up, I think Nick Xenophon
may have had another go and failed. I think the Greens are having another crack but looks stalled. https://www.legislation.gov.au/Details/C2019B00155

Imagine how much Parliamentary time could be saved if suspect behavior could be referred straight off rather than now where there is endless inuendo, posturing and denial that has little value to running the country.

3 Likes

Oh the irony!

3 Likes

Now the deputy chair has resigned after another scandal.

1 Like

Smoke -> Fire

Maybe we need a competition, “Govt Agency free of snouts in trough”, I wonder if there would be any nominations.

2 Likes

ASIC does appear to have staffed up with senior management intimately conversant with some of the issues they are supposedly regulating in businesses. :roll_eyes:

3 Likes

One instance is particularly revealing of what is an acceptable standard according to ASIC.

Annual renewal fee for company registration: $273

Just don’t be late paying!
Makes bank credit card fees and interest look almost reasonable.

4 Likes

They have to get the money from somewhere to keep the trough full.

1 Like

The ASIC scandal continues at 'glacial" speed.

1 Like

What happens when you have a fox guarding the chickens?

Not only ASIC.

He has certainly had a remarkable recovery after his court appearances over the Qld Nickel debacle.
when he arrived clutching a breathing device and a vomit bag, after suffereing a massive weight loss.

Christopher Skase should have got a few health tips from him.

Another ASIC fiasco.

And ASIC is still pussy footing around with Palmer’s 2012 takeover of the Coolum Resort.

What an absolute joke.

image