You are dodging the question Jim, or not understanding the question!
The legislator makes the law and the judiciary interprets the law - even if ASIC wanted to shy away from action (which I don't believe they do) it is impossible for a criminal act, committed in the public eye to go unpunished.
Is it really likely that the only person recognising a law is broken in Australia is you! That somehow all powers that be have missed it!
I can say without a shadow of doubt there is an adequate number of professional people in Australia capable of influencing legal action for a criminal act, as you call it.
Could it be that no action has been undertaken because there is no evidence of a criminal act, just plain simple error of judgement.
Tort law takes care of damages, hence you getting a payout for a decision making that has impacted you financially. Humans err and make poor decisions everyday. I would argue that you are a contributory factor to your losses due to you making a non-forced decision to invest. Akin to contributory negligence in a motor vehicle accident!
Dress it up how you like. The underlying message you send is that you deserve a risk free investment and if it goes wrong somebody must pay.
Your analogy with US is flawed. To make a connection there has to be a similar set of facts. An analogy can only be drawn once a criminal case is proven. Then you can draw a comparison with sentencing. The US cases are irrelevant to SGH BOD due to no criminal act proven, the severity of sentences has no bearing on whether a law is broken or not. First, either a law is broken or it is not; second sentencing is delivered based on what is available to the judiciary.
Your example is a case of an emotional response and taking a short-cut to try and make a point.
I attach for your information...separation of powers ensure appropriate action is taken where warranted, without prejudice.
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