Helen Coonan (NSW, Liberal Party, Minister for Communications, Information Technology and the Arts) Share this | Hansard source

The same answer applies. ASIC does have the powers it needs to ensure that there is proper disclosure of information to retail investors and that the schemes are competently run in the interests of members. The regulation of financial services has been substantially reformed since the Westpoint schemes were first offered. Based on the existing law and the current court decisions, there are no current loopholes.