Michael Pascoe writes:

For all their bluff and
bluster at the time, it looks like the two authorities responsible for
Steve Vizard not facing criminal charges were stung by the public
reaction and are now looking where the bolt might be on the relevant
gate.

The SMH’sElizabeth Sexton
has the story of ASIC and the Director of Public Prosecutions seeking
greater powers to force witnesses to give evidence in light of the
Vizard PR disaster. The worry is that the powers they seek still might
not have been enough to do the job, specifically to get Vizard’s
accountant, Greg Lay, to sign his witness statement or give evidence
against Vizard.

What’s more embarrassing is that it seems the
parliamentary body with oversight of ASIC, the Joint Committee on
Corporations and Financial Services, knows the law better than the
watch puppy as its report shoots holes in the ASIC submission and
suggests better alternatives.

What we need though is for the committee’s recommendations to be enacted. Now, who’s the can-do Australian Attorney-General?

Peter Fray

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Peter Fray
Editor-in-chief of Crikey

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