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Subscribe to this list via RSS Blog posts tagged in ASIC Chairman failures
Scrutinising ASIC: Is it a watchdog or a dog with no teeth? Adele Ferguson, Ben Butler, Ruth Williams November 23, 2013   The AGE Under fire: Greg Medcraft and ASIC now facing criticism from a range of quarters. Photo: Arsineh Houspian Investors have lost billions under its watch and the business scandals are many, but opinions are divided on the cause of ASIC's problems. ASIC chief's overseas trips draw criticism It was a busy June day in 2010 when Jan Braund, a Sydney retiree, bundled herself and her frail husband Alan onto a train for their long-awaited shot at justice. A year earlier, the Braunds had been left financially ruined after a Commonwealth Bank financial planner named Don Nguyen switched the couple's life savings from conservative to disastrously risky investments. He did it without their knowledge or permission, allegedly forging their signatures along the way. Now, the Braunds had been summoned by Australia's...
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  • doyla66
    doyla66 says #
    Thanks for the well written article. Agree Lisa, "it's time for ASIC to leave," and we will be keeping the pressure up! Bank on
  • doyla66
    doyla66 says #
    It was a theme he returned to the following year, saying that ''it might be better to prohibit certain products from being offered
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ASIC chief's overseas trips draw criticism Adele Ferguson, Ben Butler and Ruth Williams November 23, 2013   The AGE Globetrotting... Greg Medcraft's travel this year. Scrutinising ASIC: Watchdog or toothless tiger? Paris, New York, London and St Petersburg are among cities visited by Australia's top corporate regulator, Greg Medcraft, during extensive taxpayer-funded travel that has caused him to miss crucial parliamentary hearings into the Australian Securities and Investments Commission. A Fairfax Media investigation reveals Mr Medcraft has spent at least 51 days overseas in the first 10 months of this year, not including the time spent travelling to and from Australia. He flies business class, funded from ASIC's budget. Mr Medcraft, who has already drawn fire from Finance Minister Mathias Cormann and Defence Minister David Johnston, was in the Russian city of St Petersburg during a Senate hearing on June 5 that sparked an inquiry into the performance of ASIC. ASIC is...
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  • doyla66
    doyla66 says #
    Greggy has to go overseas to get his glory because he is a laughing stock in his home country Australia.ASIC is still dysfunctiona
  • doyla66
    doyla66 says #
    It just so happened that i mentioned to a media manager this week, that Greggie's US Securitisation Program cost US citizens $11.9
  • doyla66
    doyla66 says #
    Wow! Not a bad job.!!!! Guess it doesn't matter really, he has a lot of UNSKILLED workers within ASIC who can hold the fort. prob
  • doyla66
    doyla66 says #
    When the going gets tough, Greggy goes globetrotting! Tell him not to bother coming back. I'm sure we can manage without him. ASI
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