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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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Greg Medcraft is presiding over a basket case regulator.  He could well be the reason for the escalating high turn-over of staff at the Australian Securities and Investment Commission.  Decent people loathe having to work in a corrupted work environment.....they will simply move on.  Consumer complainants now realise that their cases are being dealt with in a slow manner but by "nice caring people" and then those people leave and another takes her/his place.  The complainant is told investigation into their case has to start all over again.  Shortly after its CASE CLOSED. My guess is there will be a mountain of submissions lodged with the soon to be opened Senate Inquiry into ASIC.  Submissions accepted after 8 July 2013. I have kept a library full of stupid response letters from ASIC to consumers and RECA, dating back to 1998.  We will be releasing those shortly as an additional Breaking News...
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  • doyla66
    doyla66 says #
    Greg Medcraft doesnt just need to be sacked but fined for his apathy.
  • doyla66
    doyla66 says #
    It sounds like you would do a great job. Plant a BFCSA member inside ASIC with wires. I can see you lasting a week at least, befor
  • doyla66
    doyla66 says #
    Thanks, Maria. I just thought I might make some pocket money and do some good at the same time. At least until ASIC is shut down .
  • doyla66
    doyla66 says #
    How hard is it to get a job at ASIC assessing these cases? What qualifications are needed for the job? Does anyone know? Are th
  • doyla66
    doyla66 says #
    Lisa, RBA/Treasury-headhunter's footnote; precursor-- "only mates of PM & 30bank$ters need apply", and have a nice day :-)
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  Oct 22, 2012 The Australian Securities and Investments Commission (ASIC) has publicly released a transcript of a speech given by Greg Medcraft, current ASIC Chair and chairman-elect of the International Organization of Securities Organisations (IOSCO), to the International Centre for Financial Regulation in September 2012. In the speech, Mr Medcraft outlines his views on the key challenges facing IOSCO and his suggested strategies to address those challenges, including a greater role for industry. The three key challenges for IOSCO as suggested by Mr Medcraft are: The migration of savings from the banking regulatory perimeter to the securities perimeter and with it the increased significance of securities regulation, driven by banking regulation and the search for yield The pace of financial innovation and the ongoing risk that it will outpace regulation, which historically has been shown to lead to crises Continuing globalisation of financial markets and products, requiring a global...
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  • doyla66
    doyla66 says #
    He does what he does best - ducks for cover at question time and when he is asked to carry out a task which doesn't suit him. I w
  • doyla66
    doyla66 says #
    So true! I like the idea of BFCSA informing the new chair of ASIC what's required of them. BFCSA are the only borrower representat
  • doyla66
    doyla66 says #
    Yes - totally agree with that statement. IOSCO can have him. He's a fraud, a failure & as we all witnessed regarding this current
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