Hi asteroider, Respectfully, I absolutely agree with just about...

Hi asteroider,

Respectfully, I absolutely agree with just about every word you write with exception to your first sentence which is contradictory to my #1 and #4 golden rules of investing on the ASX...

#1 - Research is the key

#4 - If you're prepared to trust the ASX or ASIC then you must also be prepared to lose 100% of your capital

For more than a decade Australian defamation law has only operated to inhibit Australian's from free speech, and in doing so, protect criminals from scrutiny - (as if that wasn't already pretty obvious by the significant influx of foreign entities listing on the ASX with intent to commit acts of fraud.)

I was honestly beginning to think that I was the only one who has been staying at home every year while my friends continue going out to get drunk. Look, at the end of the day, there's really no better way to insult our fallen heroes than to strip away everything they gave their lives for, and then have some idiot from within our government stand in front of a microphone each year to keep pretending that we actually care. Least we forget that words appear to speak much louder than actions in todays morbid society.

You're not only spot on right, but I'll add a couple of questions to corroborate your thoughts - and to those who may have been caught up in this scam, just remember ASIC are seeking pecuniary penalties, i.e. they just want part of the 'alleged criminal' proceeds - charge the perpetrators a couple of dollars and prohibit them from managing corporations for about 12 months, i.e. like many before them, they'll probably end up having to change their name for future ASX notices.

1. Who is responsible for enforcing an entity to comply with its continuous disclosure obligations under the listing rules, and what appropriate deterrence measures have been implemented to ensure Australia's financial markets are fair and transparent, supported by confident and informed investors?

2. As both the ASX and ASIC would've become well aware of the significant amount of insider trades (approx. 75m) executed on PDY during the 3 days leading up to the alleged misleading information made with the assistance of the ASX on 11/04/2014, why was no decision made by the regulator to exercise its power for reversing these criminal trades?

3. As it is supposedly the intention of ASIC is to ensure Australia's financial markets are fair and transparent, supported by confident and informed investors, what action did it take in order to protect retail investors on 11/04/2014 immediately after it realized that an announcement with clear intent to scam retail investors was approved for release through the ASX?

4. If the intention of ASIC is to ensure Australia's financial markets are fair and transparent, supported by confident and informed investors, then what measures has it recently undertaken (if any) to ensure that no more evidence of its involvement in the cover up of major fraud over the past 10 years is submitted to any more Senate enquiries?