If you type in Manipulation or shorting on the search of ASIC. there are casts of them taking action.
I did find out that there is a new Act coming in that requires disclosure of short trading from who's leading the shares to who's borrowing the share with in a max of 1-3 days released to the public. So if X borrows shares from Y and the price starts to get forced down, at least you may have a clue as to what and who is going on. If Y wants to buy out the share they lent, then they with have to answer some tuff questions. It's a start.
Quote from another poster.
The best you can do is the right thing. The worst you can do is nothing.
