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ASIC DETERRENCE AND ITS APPROACH TO SECURITIES LITIGATION Justin Brereton, Barrister CONTENTSINTRODUCTION .............................................................................................................. 2 PART 1 – BEFORE THE CASE BEGINS......................................................................... 3 INVESTIGATION PROCESS AND ASIC’S LITIGATION OBJECTIVES ............... 3 Notices to produce books ............................................................................................ 3 Compulsory Examinations .......................................................................................... 9 The types of search warrant available to ASIC ........................................................ 13 COMPETING CONSIDERATIONS WHEN COMMENCING LITIGATION .......... 16 The commencement of proceedings and the use of compulsory powers .................. 17 PART 2 – ONCE THE CASE HAS STARTED .............................................................. 20 ASIC’S APPROACH TO LITIGATION GENERALLY ............................................ 20 The obligation to act as a model litigant ................................................................... 20 CONSIDERATIONS RELEVANT TO SPECIFIC JURISDICTIONS ....................... 22 Civil, criminal and civil penalty proceedings – when jurisdictions collide .............. 23 Civil proceedings ...................................................................................................... 28 Administrative Hearings ........................................................................................... 30 ASIC AS ADVOCATE FOR THE INVESTOR .......................................................... 34 ASIC’S GROWING SPHERE OF INFLUENCE ........................................................ 35       INTRODUCTIONJustin Brereton, Victorian Bar 1. This paper accompanies a presentation given by...

0 0 0 0 0 0 The Human Race Film – a MATT NORMAN film Breaking News – High Court sets precedent against fraudulent banks 24 Jun 2010 High Court rules against financier of low-doc loans Message from Matt Norman; Before I let you read another great article by Anthony Klan, I just wanted to add my own thoughts on this outstanding result. This news comes just in time for my own high court application on the same grounds as below. The Supreme Court “MELBOURNE” are going to finally look at the professional misconduct of all cases against the banks they have deliberately turned away when they see the thousands of people who have all been led by the banks and the courts into losing homes, suicide, family breakups, bankruptsy because they are not allowing self litigants the chance to have their case heard. I also would like to say...

Comment: Australian's put their lives and everything they value at risk everytime they deal with an Australian Bank or the Australian legal profession. Both are a disgrace "with notable execeptions". It is like Russian Roulette. The risks are too high, according to those whose eyes have been opened to the truth about Australian banking culture. Our politicians, once again, "with notable exceptions" should also be ashamed of themselves. Not only did they not want to listen, not want to act but they systematically attempted to gag our political representatives who wanted to raise such issues in parliament. Those who participated in this disgusting conduct are a total disgrace. We will name and shame them if this conduct EVER happens again in OUR Houses of Parliament. Stay away from the Australian Banking and Financial Sector until a committed and thorough investigation followed by a total overhaul of the regulatory systems and a...

It only took six years for Tony Mokbel, a suburban pizza maker worth less than $100,000, to be rolling in dough. Source: Herald Sun THE boss of the National Australia Bank has admitted its multi-million-dollar relationship with drugs boss Tony Mokbel was not acceptable. Cameron Clyne said he would examine how the NAB loaned Mokbel millions of dollars to invest in property and expensive cars at a time his reported taxable income was $160 a week and when police were closing in on his drug empire. The Herald Sun told yesterday how in documents released this week by the Supreme Court it was revealed that between 1996 and his arrest in 2001, Mokbel amassed a portfolio of more than 20 properties, financed by loans from the NAB and cash from his amphetamines business. Read on .... http://www.adelaidenow.com.au/national-australia-bank-chief-admits-banks-relationship-with-drug-baron-tony-mokbel-was-unacceptable/story-e6frea6u-1226452943587...