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 Slimy OZschwitz watchdog won't chase Reserve Bank's Securency case

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Slimy OZschwitz watchdog won't chase Reserve Bank's Securency case Vide
PostSubject: Slimy OZschwitz watchdog won't chase Reserve Bank's Securency case   Slimy OZschwitz watchdog won't chase Reserve Bank's Securency case Icon_minitimeMon Mar 12, 2012 4:16 am
The Australian Securities and Investments Commission has decided against a formal investigation into the Reserve Bank-linked currency printing subsidiaries Securency International and Note Printing Australia, it said today.

“In line with its normal practice, ASIC has reviewed this material from the Australian Federal Police for possible directors’ duty breaches of the Corporations Act and has decided not to proceed to a formal investigation,” ASIC said today.

The announcement comes less than a week after The Age revealed that the Australian Federal Police had referred evidence of illegality by senior Reserve Bank officials to ASIC for investigation last year.

Nearly a dozen former senior executives from Securency International and Note Printing Australia were charged with paying bribes in 2011, amid investigations into the conduct of several RBA-appointed directors of currency companies Note Printing Australia and Securency International.

Read more: http://www.smh.com.au/business/watchdog-wont-chase-securency-case-20120312-1utoa.html#ixzz1ot9DLnYv
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