-
Australia a paradise for corporate crooks says regulator
The boss of the corporate regulator says Australia is too soft on corporate criminals and increased civil penalties including more jail terms are needed. The Australian Securities and Investments Commission chairman, Greg Medcraft, told journalists at a Walkley Foundation function that "Australia is a paradise for white collar crime." "[In] most countries the penalties are two to three times the amount gained or lost," he told the function. "Often [in] Australia it's actually worthwhile breaking the law to do the trade. You can't have that." The corporate watchdog is under fire and accused of not doing enough to ... (full story)