Jim. ASIC . With a few exceptions, Storm Financial e.g. they only manage to obtain convictions for the small fry, small crooked financial planners and the like and small time company directors. When they do take the bigger cases to court they seem to lose. Even in the Storm case the guilty parties were only fined $70,000 each, a joke considering the pain they caused the retiree investors. Whether it is a fault of the politicians or the judiciary, I do not know, but something is amiss imo. It is not good enough to say' put stop loss on share orders 'when many investors in the market particularly older ones are not sophisicated enough to use these sort of strategies properly or wisely.
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