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As usual, a tiny penalty of $16,000 plus interest to be paid by the Super Fund but NO SANCTIONS OTHERWISE,

Yes certainly not a large Bank or AMP or your average Financial Adviser. One rule for some and severe sanctions for others, especially Financial Advisers!!!!

Let's face it, Kell came out of that FAR LEFT ORGANISATION called CHOICE.
No doubt other staff at ASIC have followed a similar career path. A strong LEFT WING background, dedicated to searching for ways to be unhelpful to Financial Advisers.