New Report into ASIC’s Frustration of the Senate’s Work

ASIC is trying to frustrate the Senate's role to investigate porous law enforcement in Australia. A multi-partisan Report has been tabled in the Australian Senate to demonstrate this point.

The Report contains a pathway to disclose closed case files in which ASIC has failed to enforce the law. ASIC has one main job which is to enforce the law and achieve prosecutions. ASIC has failed to do its job.

This Report is certainly not a list of recommendations to fundamentally fix ASIC. This particular Report is designed to end the secrecy and obfuscation to which ASIC is addicted.

The Committee has unanimously agreed to reject ASIC’s public interest immunity claims over closed cases.

Furthermore, the Committee has rejected ASIC’s secrecy over its communications with the Executive Government regarding these public interest immunity claims.

The Report also sets out concerns on ASIC’s interference in the parliamentary process. A referral to the Privileges Committee will be made on this matter.

In coming months, the Committee will commission public hearings where there will be a public airing of the substantive matter: failed law enforcement in Australia.

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