ASIC Sale Lunacy

In July last year, Intelligent Investor founder John Addis suggested we should privatise ASIC. John was taking the Mickey out of the corporate regulator for overcharging for corporate registry services such as the $1000 charge for registering the name of a company or the ongoing $236 fee for an ‘annual review’. The corporate registry functions of ASIC have long been used by the federal government as a cash cow, over-charging for services so it can use the money elsewhere. John even joked that with investor friendly features such as growing annuity revenues, high margins, and protection from competition, the government might...

In July last year, Intelligent Investor founder John Addis suggested we should privatise ASIC. John was taking the Mickey out of the corporate regulator for overcharging for corporate registry services such as the $1000 charge for registering the name of a company or the ongoing $236 fee for an ‘annual review’.

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