Politicians like Shorten suggested that self managed - TopicsExpress



          

Politicians like Shorten suggested that self managed superannuation investors were ‘swimming outside the flags’ in 2008 2009, with no due diligence in managing their funds, despite the reality that a deliberate criminal sting was set up in 2008 by transnational organized crime to specifically exploit deficiencies in the Australian financial and superannuation systems. Meanwhile, government regulators who are supposed to watch this and were run by Shorten the minister (ASIC and APRA) failed to alert the market; despite court documentation indicating the regulators had negative information on Trio from 2008, and thus were obliged to advise investors. The Oversight of the Australian Securities and Investments Commission states: "ASIC has carefully been assessing the findings in that report, which has lessons for the community, for investors, for the government, for the many gatekeepers involved in the super sector and for the regulators."
Posted on: Fri, 04 Oct 2013 00:09:09 +0000

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