Wednesday: Australian Securities and Investigations

wednesday: The Australian Securities and Investments Commission's annual report released on Wednesday revealed 124 investigations were completed in 2017/18, resulting in 351.6 million in compensation or remediation, according to Nine News Australia. As well, ASIC's work led to 22 criminal convictions and 183 people either being removed, restricted or banned from providing financial services or disqualified from directing companies. To improve your experience update it here News National Ripped off investors reap 350 million2 51pm Oct 31, by the corporate watchdog have reaped more than 350 million for ripped off investors and consumers. ASIC chairman James Shipton said in the report the royal commission had shone a bright light on the consequences of financial services misconduct and of failing to abide by the standards of behaviour required by the community as a whole . We need to recognise that every cent in the financial system is other people's money, Mr Shipton said. He wrote that ASIC was seeking to use the tools available to it to modify behaviours and improve professional standards, with the aim of rebuilding trust in the financial services sector . Related Articles Tax watchdog wants tax office changes Photos of the week The Lion Air disaster, Rush in court and Venice floods Barnaby backtracks on Nats Nazi skepticism Over the year 1200 surveillances were conducted, down 200 on the previous year. Corporate Australia - and, in particular, the finance industry - is suffering from a deficit of trust. (news.financializer.com). As reported in the news.