The Senate inquiry into Australian Securities and Investments Commission, has found a litany of problems with Australia’s corporate watchdog, going so far as to recommend the organisation be broken into two separate regulators.
In its final report, the 20-month inquiry by the Senate Economics Committee found the corporate and financial services regulator consistently fails to prosecute offenders, and it responds to most reports of alleged misconduct by taking no further action.
GUEST:
Professor Jason Harris, Sydney University
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Andrew Bragg says ASIC are "unwilling to do their job".
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