A parliamentary inquiry into the Australian Securities and Investments Commission has revealed startling evidence about some of its operations. Suzanne James reports.
Australian Securities and Investments Commission (ASIC)
The Barangaroo project and casino is a story of corruption and secrecy, motivated by profit, and widespread opposition from community groups. Ben Radford reports.
Deregulation and weak regulations allows greed and dishonesty to continue in Australia’s financial sector, argues Suzanne James.
The Finance Sector Union has slammed a plan to "embed" financial regulatory agency officers inside the Big Four banks and the financial management giant AMP. The FSU says that officers from the Australian Securities and Investments Commission (ASIC), which has been criticised for being “too close to the banks”, would be unable to penetrate the unethical internal culture of the banks.
While federal Treasurer Scott Morrison was spruiking low and middle income families as the “winners” in the federal budget, unnoticed among the biggest “losers” was the Australian Securities and Investment Commission (ASIC).
The owner of a Queensland tour company that underpaid its workers has been jailed by the Federal Court in a contempt of court case brought by the Fair Work Ombudsman (FWO). It was the first time a boss had been jailed as a result of action by the FWO.
Some of Australia’s most respected investigative journalists have signed an open letter to the federal government urging it not to privatise the corporate registry held by the Australian Securities and Investments Commission (ASIC). They have urged the government to make access to the database free, as it is in New Zealand and Britain.
"Let's take the big banks head on over their crimes and their attempts to cover up their massive financial rip-offs, and nationalise them under workers' and community control," Peter Boyle, Socialist Alliance candidate for the seat of Sydney in the upcoming federal election, said on April 14. Boyle was responding to reports the banks were considering a huge advertising blitz against plans by the Greens and the Labor Party to launch a Royal Commission into the banking and finance sectors.