Why do we allow these practices on our exchanges?

ben pauley

Newbie
1 0
Dear UK Brothers and Sisters. Lots of people have tried to stop these dishonest practices on our stock exchanges and failed. But the time to act is now.

Please get behind this petition and turn it global. Let's turn it into a million signatures and the media can't ignore these problems.


Currently, amongst many other dishonest or dubious practices, ASIC allows
Short selling, including during capital raises
Exclusive after-hours trading for select parties
Algorithmic trading that manipulates prices
Collusive trading and coordinated shorting by Investment Banks
Privately owned servers located preferentially inside the ASX
Liquidators under-selling company assets, price gouging, and aiding their demise for the benefit of other parties
Coordinated pump and dump operations using well known investor forums
Manipulated private equity buyouts of iconic companies, looting them and then relisting the gutted shells with inflated valuations
Rampant and blatant insider trading that never leads to prosecution or conviction.

Every experienced investor knows about these dishonest and disgraceful practices that have seen the ASX openly described as a ‘Cowboy Bourse’ and the ‘Wild West’, yet ASIC continues to turn a blind eye to it. Whether through under-funding or corruption, ordinary investors are not being represented by the body charged explicitly with that duty. Only a Royal Commission will have the power and gravitas to bring about the root and stem changes required to give ordinary investors a level playing field and stop the ripping off of billions of dollars by white collar
 

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