Can someone tell me why characters like this don't serve a gaol sentence to deter others from doing this whilst true investment advisers/professionals are subject to extreme scrutiny and compliance measures through over-regulation.

Despite the regulated requirements for those on the FAR, the likes of Caddick etc seem to spring up like mushrooms in spite government rules that require others who have gone through the process to provide professional advice.

You have to wonder what ASIC were doing between March 2020 and November 2021 !