ASIC taking longer to close cases, turns down 80% of whistleblowers
( November 1, 2016, 07:24 GMT | Insight) -- The Australian Securities and Investments Commission’s recently released annual report has revealed it is taking longer to finish criminal investigations and turning down 80 percent of complaints by whistleblowers, The Australian and the Sydney Morning Herald report. The Australian Securities and Investments Commission’s recently released annual report has revealed it is taking longer to finish criminal investigations and turning down 80 percent of complaints by whistleblowers, The Australian and the Sydney Morning Herald report. The commission now takes an average of two years to finish a criminal investigation, up from 16 months previously. It also filed just six criminal charges in 2015-16, down from 17 the previous year. At the same time, around 80 percent of disclosures from whistleblowers were deemed to have required "no further action" and dismissed largely due to "insufficient evidence." About 70 percent of the whistleblower complaints the commission received over the past year were about "corporations and corporate governance"....
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