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1.Market Observations, 5.Troubled companies, 8.Was Sticky

31 Aug 2015 (AFR) – Government delays behind BBY’s $16m disaster (opinion)

(31 August 2015, AFR, p18, by Patrick Durkin, opinion)

‘The federal government’s repeated failure to fix a legal loophole could cost the clients of collapsed stockbroker BBY up to $16 million. Following the collapse of derivatives broker MF Global in 2011, the former Labor government promised to move quickly to ensure client funds could never again be mixed or used for trading on other investments. The Australian Securities and Investments Commission and Treasury examined the issue, and first Bill Shorten (before Labor lost the 2013 election), then Arthur Sinodinos​ and now Assistant Treasurer Josh Frydenberg all promised to act quickly.’

Read the full story at AFR.com (might need AFR login access)

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