"If ASIC's new survelance teams (they took it over from the ASX...

"If ASIC's new survelance teams (they took it over from the ASX last year) were any good they'd be all over this."

See Brockman Resources, the crooked manipulation of that company over the past year shows ASIC is bordering on useless.

Frankly, I'd rather have no regulation. At least then you're under no illusions of what you're stepping into, rather than living in hope that there's someone protecting you when there isn't.