Petition - Royal Commission Into Dishonesty At The ASX

Stop dishonest practices on the Australian Stock Exchange and demand a Royal Commission.

Currently, amongst many other dishonest or dubious practices, ASIC allows

1. Short selling, including during capital raises
2. Exclusive after-hours trading for select parties
3. Algorithmic trading that manipulates prices
4. Collusive trading and coordinated shorting by Investment Banks
5. Privately owned servers located preferentially inside the ASX
6. Liquidators  under-selling company assets, price gouging, and aiding their demise for the benefit of other parties
7. Coordinated pump and dump operations using well known investor forums
8. Manipulated private equity buyouts of iconic companies, looting them and then relisting the gutted shells with inflated valuations
9. Rampant and blatant insider trading that never leads to prosecution or conviction.

Every experienced investor knows about these dishonest and disgraceful practices that have seen the ASX openly described as a ‘Cowboy Bourse’ and the ‘Wild West’, yet ASIC continues to turn a blind eye to it. Whether through under-funding or corruption, ordinary investors are not being represented by the body charged explicitly with that duty. Only a Royal Commission will have the power and gravitas to bring about the root and stem changes required to give ordinary investors a level playing field and stop the ripping off of billions of dollars by white collar criminals.

sign the petition at Change.org