Directions for the future
Overview of Part V
An examination of ASIC's performance has necessarily been, to a
large extent, retrospective. Parts II, III and IV of this report have examined
past events or considered the regulatory regime as it is at present.
This final part of the report uses the evidence that committee
has received and draws on the lessons from past experience to identify various
changes that would encourage better regulatory outcomes in the future. These
changes either relate to ASIC itself, the legislation it administers or the
regulatory framework it operates in.
Some of the changes identified are complex and would require
further careful consideration. It may be some time before all of the changes
can be developed and introduced. However, the committee believes it is
essential to start acting on these changes now. Without a fairer and more
responsive regulatory system, the future will simply bring more stories of
suffering and injustice with the same issues identified as the culprits.
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