Sure the Advisers did the wrong thing.
But let’s get real here, Dodgy Dixon owners and management were force feeding their US resi trust rubbish as a must sell product to its vertically owned Advisers.
So reality is the Dodgy Dixon owners and management should be chased, sued, banned and jailed.
ASIC were warned for 10 years about this Dodgy Dixon’s vertical fund flogging.
ASIC did NOTHING of course until Dixon’s was bankrupt.
The thing ASIC did was advertise widely for Dixon’s clients to lodge AFCA complaints so freaking Advisers get stung via CSLR to bail everyone out.
Jail Dixon’s owners and management and personally chase their floated company fortunes.
ASIC to be held accountable for yet another no show.