I have never found Asic to be other than useless in protecting investors from corporate scams.
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Its role is to be a companies regulator.
Its Chairman has stood aside today after allegations he and his deputy have had their heads in the trough.
ASIC expense scandal puts chairman and deputy in the gun
ASIC sat on this shocking revelation for a year and did nothing until the Auditor-General Grant Hehir made the extraordinary decision of writing to the Treasurer.
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gg