ASIC's section 313 spiderweb

ASIC’s latest mea culpa about shutting down 250,000 sites is another example of how good intentions and actual enforcement don’t always go hand in hand.

Through the 1970s and 1980s Peter Clyne was the scourge of the Australian Taxation Office and a hero to the nation’s tax dodgers. He was also a poster child of the sort of behaviour the Australian Securities and Investments Commission is trying to weed out – albeit in a heavy-handed manner which has done the corporate watchdog no favours.

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