ASIC is from what I can full of Lawyers - the more regulations and rules they make, the more Lawyers will able to make a case against Financial planners and the more Lawyers that will be able to make a living off the back of that. I just can't see how or why ASIC will change - there is simply no self interest in it for ASIC but to continue. Remind yourself, exactly how much money did ASIC get in additional to normal from the RC? And they can bill as they please - just send out the invoice. And really, $70,000,000 to put a few staff into AMP, CBA, ANZ, WBC and NAB - what are they going to investigate that they should not already be doing. Really, $70,000,000 for that?
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