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TheSower

1,258 Posts.

78

13/08/18

11:54

Post #: 34895976
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Originally posted by tuts ↑

Regardless of how inert or busy ASIC may be, letting company BoDs get away with things by not reporting them will simply help rogue BoDs exploit the (window of) opportunity - If a complaint is lodged however, regardless of the level of investigation that may follow by ASIC, at least the record is there on and for a multitude of fronts for future reference, which may well be immediate. It is exactly for that question mark that has been put on ASIC's efficiency (largely due to being under resource, I believe), as a result of recent events, that I believe ASIC will now try harder to regain public's perception by proving its function and to help in/by public regaining their confidence in the corporate world (including ASX).

So, I would think for myself it is definitely worth a shot to lodge a complaint if I have a legitimate concern over misconduct by a director, BoD, or an entity, regarding any company ... specially that it only takes a short amount of time to lodge the complaint ... A LOT LESS THAN IT TAKES TO DISCUSS IT ON HERE, which is good too. It is my understanding (I may be wrong - Please DYOR) that the legitimate concern for misconduct will only need reasonably indicative, not necessarily proven, and ASIC can then hopefully investigate further and prove (if the case) by means and based on evidence that they will hopefully have better access to and may guide the complainant to provide, if available to the complainant (e.g., a market announcement, or other).

So, if people think there is a legitimate concern to lodge a complaint with ASIC (in general) and for information, here are the links again:

https://compliance.asic.gov.au/#/form/583b77dc397bbc319837ea2a/app/5b6d45dabb212106e4669a4c

If the above link goes to a login page (as it does when I try on my mobile) then the link below also can take the user to the same form. One would need to scroll half way down the page to "Make a report" and then click on "Report misconduct now".

https://compliance.asic.gov.au/#/form/583b77dc397bbc319837ea2a/app/5b6d45dabb212106e4669a4c

The above is NOT a recommendation or advice to lodge a complaint but an opinion and the links are provided if the reader chooses to use them - after all they are public links.

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How would all this complaints with ASIC help us shareholders
If we get an ANN saying that GPP done the wrong thing here and there the SP will be affected negatively once again

GPP Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
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