ASIC’s money crisis
Business Spectator reports: Some would say that a childhood diet of TV Westerns such as Alias Smith and Jones, Broken Arrow, The Cisco Kid, Kung Fu, and Gunsmoke would teach you nothing. Not so. One thing you learn from the Western is that every town needs a strong sheriff. Otherwise the good honest citizens end up getting routinely fleeced by the baddies.
In the town of “Corporate Australia”, that sheriff is ASIC. Steve Bartholomeusz pointed out yesterday that ASIC needs a win, so this piece is not going to retrace that analysis of ASIC’s latest woes. I just want to highlight that no-one in business (black hated cowboys aside) should be celebrating the diminution of ASIC as a regulatory force. To put it plainly, it’s bad for business. Full story
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