2018-04-20 02:11:20 UTC
Given the evidence given to the Royal Commission about how seriously the
banking industry regards one of the key regulators, ASIC, the government
has today released both a review of ASIC enforcement, and the
government's response to the recommendations in the review. See here -
The government has had its arse very firmly kicked in the Royal
Commission, and ASIC has been proven useless as a regulator. The
criticisms are shared by both major political parties, and reforms
should be bi-partisan.
Any changes proposed by the government will wait for the recommendations
of the Royal Commission. No doubt those recommendations will go rather
further than the review.