Submitted by Ross Smith on Thu, 2023-11-09 14:40

Thank you, however ASIC has avoided public disclosure of its 2022-23 investigation and enforcement costs to the Senate Economics References Committee, after Treasury's IFM Final Report dated 23 June 2023 reported that advisors are levied for costs not directly connected to advisor's listed on ASIC's Financial Adviser Register. I sent an FOI Request to ASIC and again it avoided these disclosures. Enforcement penalties are not credited back to levies, eg, Westpac's $10 million, and Hon. Stuart Roberts said in an interview earlier this year that Treasury is making 1.6 times ASIC's enforcement costs. Are advisors 'being skinned alive'?

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