BFCSA Blog

Where is ASIC's attempts at ENFORCEMENT OF LAW?  The Commonwealth Bank needs to be re-nationalised immediately.  A Royal Commission into the banking sector will open up the reason why charges ought to have been laid against those Banksters who received and continue to receive the largest bonuses and commissions for Low Doc Lending Fraud.  The people have a right to hear the truth and to uncover the real reason why there has been no enforcement of law in the banking sector. Retirees have been caught out by these Banksters in the use of "Equity Loans."   Disclosure Policy is a joke.  ASIC only reads prospectuses after billions of dollars in illegal Managed Investment Schemes have already collapsed under the weight of their crimes.  ASIC prosecutes none of the directors under Corporations Law.  It does not investigate Banks and in the recent feeble attempt with Macquarie Bank for breaching the law for years, resulting in billions of dollars of...