Australia’s Leading Expert Smashes ASIC
By In the Interests of the People
Important evidence this week relating to the Senate Inquiry into ASIC. A stand-out was this discussion with an academic about why ASIC fails. Why is it that ASIC does not enfore the law?
Here’s what others had to say:
@journeymann
Maybe ASIC doesn’t enforce the Law, because that’s not their actual intended purpose? Like politicians who pretend to be serving the people but do not actually do so. They fulfil their public task in title only but not in tangible or observable ways.
@carolesommer2255
If it’s All Too Hard for ASIC – then Replace the Inefficient individuals who are incapable of doing the Job they have been employed to do with People who Do have the Capability to Do the Job of Prosecuting Thieves & Frauds.
@outback109
Going after ASIC is fine and must be done but their decisions are made by individuals…remember them and the fact that they are deliberately working against the interests of the Australian people.
@corinnewatts6683
The comments on ASIC treating those they regulate like customers, strikes a cord. This seems to be the same business model the TGA operates under.
A feature not a bug?
@robertbursle5421
Very well explain, it’s always been about the big end of town.This is what always happens when companies investigate themselves.
@cosmicblaze1608
Great work Andy, good to see there are people with morals standing up to these corrupt practices. He has a podcast talking about these issues just recently launched with Anthony Klan.
@robertjolliffe2612
HayAlbo our MP, are you watching this mess around ASIC? It’s time to scrap this group to a Royal Commission & stop all corruption in business & politics as the interest of the people are coming for you to run a clean banking system & political now.
@misterg2269
Bravo to this highly intelligent man for his honesty and courage and integrity, this is the type of person our bureaucracy and political arena need, and unfortunately have very very few of
@phillipsweeney7978
ASIC has covered-up a $1 Billion superannuation fraud by granting “relief” to a Trustee who featured at the Hayne Royal Commission for over a DECADE. The new law that was supposed to come into effect on 1 July 2013 would have forced the trustee to post Deeds on its website that would have exposed the $1 Billion Fraud. ASIC has granted “relief” out to 30 June 2024 and will extend this relief into the future as requested by the trustee.
@cinemaipswich4636
The Australian Prudential Regulatory Authority has only ever prosecuted one of their own. The Australian Competition and Consumer Commission only prosecutes by fines to the glaringly obvious cases. The Australian Securities and Investment Commission does not want to prosecute anyone.
@nottenvironmental6208
Just like the EPA. ASIC should be disbanded or only have administrative responsibility
@desoneill5489
Excellent video. I wonder how many individuals are out there like myself who have never lodged a complaint of major fraud on the basis of those who are supposed to uphold the law are both incompetent and corrupt. Keep up the good work John and Martin and don’t overlook the other big issue of the so-called untouchable paedophiles we have her in Australia. i.e. Judges, PM’s (3), Governors General (2), Politicians (both sides), Senior Police, Senior Public Servants and Members of the Bar, just to categorize a few. If you wish details just get in touch with me.
@CSigmaShow
ASIC, just like the SEC is America, is only there to provide cover for their friends and reap private sector jobs after working at ASIC.
@phoneticau
A basic question should ASIC regulate and enforce the law, clearly not.
@BOON2785
The whistle-blower protection department has got some back logging to do. They’ve been on a coffee room break since Julian Assange show us how the loud ones rang.
@downunda107
Mine and others Lives were destroyed by overt inaction by asic. Whilst only involving a Family trust company, their ignoring the crimes carried out under the company name proved how toothless and unwilling they were to uphold the written rules and penalties. These perpetrators simply carried on doing the same thing . Helpful to know the likes of John Adams and Martin North al9ng with this Professor are batting for Us everyday People.
@thelastaustralian7583
Professor Schmulow’s reasoning ,using ‘Constitutional impediments’ ! Considering ‘all’ foreign controlled States and Territories within Australia ,break Australians Constitutional Laws . He is either intentionally or incompetent to being aware of that fact ! He doesn’t seem incompetent does he?
Original source: https://www.youtube.com/watch?v=VHO-9m-BhJM