Jim, watch 'The China Hustle' it doesn't paint SEC in a very good light. Pretty much failing in a similar fashion to how you see ASIC failing. If one is to believe the stories within that documentary then fraudulent activity involving companies on the US exchanges, and offenders getting away without prosecutions, beggars belief.
None of the above reduces ASIC accountability, equally, SEC perhaps should not be held up as the benchmark in regulatory controls and enforcement.
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