Cover-up by APRA

The Parliament of Australia provided APRA with increased enforcement powers with the Superannuation Safety Amendment Act 2004, however APRA has just refused to enforce the laws that were meant to improve the safety of the largest asset most people will acquire in their working lifetimes, as has been recognised by the High Court of Australia.

Both APRA and ASIC work on the pragmatic approach that it is far easier to provide protection to a small number of white-collar criminals than it is to ensure justice for their many thousand of victims, who in many cases do not even realise they have been robbed.

In essence both ASIC and APRA are running Australia’s largest protection racket.

facebooktwittergoogle_plusredditpinterestlinkedinmailby feather

This tab updated on 21 July 2015