ASIC ( All Sleeping In a Coma)- a Dud Regulator stacked with deskbound , boy scout and girl guide lawyers – no market savvy, no practicioners, 0 credibility . Fels is right-don’t throw good money after bad

Former ACCC boss calls for ASIC to be stripped of powers over banks

By senior business correspondent Peter Ryan

Updated 

Allan Fels
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Founding chairman of the Australian Competition and Consumer Commission (ACCC), Professor Allan Fels, has slammed the corporate regulator for being weak and ineffective in fighting bank misconduct.