ASIC throws its weight around

  The Australian Securities and Investments Commission (ASIC) is a curious organisation at the best of times, but it has certainly surprised everyone with its intervention in the Woolworths takeover of David Jones. ASIC, the corporate policeman, is notoriously slow to issue speeding tickets, let alone march companies and individuals off to court whose conduct fleeces shareholders, suppliers, and customers of millions of dollars. Take for instance its inaction on the Allied Brands and Kleenm

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