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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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ASIC assets sized up for $1 billion selloff.

Posted by on in Australian Securities & Investment Commission
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Dear members

The axe is about to fall, this morning Tuesday15th  in the Australian it appears the government is contemplating selling off ASIC assets.The corporate regulators register of companies is being sized up as part of a plan that could inject $1billion cash into government coffers.This comes as a result of Greg Medcraft stating its not part of ASIC's core function and was a technology business.

Could this be a sacraficial lamb to apease the government directive that all departments must suggest ways of saving costs across the board. In light of all the bad media exposure and the revelations of the Senate Inquiry could this be ASIC's attempt to stave off job losses especially at the top?

The CSIRO and next the ABC are starting to bare the brunt of expenditure cuts so its only a matter of time. Just the chairman and his commissioners wages runs into millions and the ASIC machine costs hundreds of millions of dollars yet is not for filling its mandate of protecting consumers. Greg Medcraft and the Commissioners admitted to the Senate that they could of done better in regards to Commonwealth Financial Planning.The writing is on the wall and shortly on the dismissal notices that are sure to come, Bon Voyage ASIC. Thanks Neil T.

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  • doyla66
    doyla66 Monday, 14 April 2014

    Maybe the Senators have woken up to the fact Denise has uncovered all of the scam and helps victims
    with no funds from the government, and yet ASIC has helped no one just fobs everyone off and gets paid millions.
    That's a pretty good scam ASIC has going.

  • doyla66
    doyla66 Friday, 18 April 2014

    Exactly right Maria

    ASIC's lazy and ineffective days are coming to an end. How can they claim they are under resourced when we have their chairman flying all over the place? why didnt he roll up his sleeves and get stuck into helping his staff? Instead he was showing off overseas, eating drinking, travelling, sight seeing - absolutely ridiculous.

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Guest Wednesday, 18 September 2019