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Thread: ASIC clears Rebels and Rugby AU of wrongdoing

  1. #1
    Senior Player SPaRTAN's Avatar
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    ASIC clears Rebels and Rugby AU of wrongdoing

    ASIC the toothless tiger. What a shame.

    ASIC clears Rebels and Rugby AU of wrongdoing


    TODAY AT 3:08 PM SUPER RUGBY
    Rugby Australia has been cleared of any wrongdoing by ASIC. Photo: Getty Images
    Rugby Australia has been cleared of any wrongdoing by ASIC. Photo: Getty Images
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    Beth Newman Profile by Beth Newman
    The Australian Securities and Investments Commission has cleared the Melbourne Rebels and Rugby Australia of any wrongdoing after a lengthy investigation into the transfer of Rebels' ownership in 2015.

    ASIC launched a probe after last year’s senate inquiry into the closure of the Western Force by Rugby Australia.

    That inquiry, led by WA senator Linda Reynolds, recommended ASIC look into the evidence of the Rebels ownership transfer deal in 2015, and Rugby Australia’s financial practices.

    After an almost eight-month long investigation, beginning last November, an ASIC spokesman confirmed on Friday that their panel had found no case for the rugby organisations to answer.

    ASIC commissioner John Price led the investigation and told a parliamentary committee on Friday that the body had examined the issue exhaustively and ‘there was no evidence to warrant further action’.

    “We looked at it, gave it a lot of resources, given the considerable interest in it and we did not find any evidence to warrant taking further action,” the spokesman said.

    Rugby AU, the Melbourne Rebels and the Western Force and the senate committee that put the investigation forward have all been notified of the conclusion of the investigation.

    A Rugby Australia spokesman confirmed on Friday that the organisation had been made aware of the verdict.

    The investigation’s findings will come as a relief to the national body, after a long court battle with the Force followed by the senate inquiry last September
    https://www.rugby.com.au/news/2018/0...els-conclusion

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    Veteran BLR's Avatar
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    Have a flick over to ASIC currently getting grilled in the RC to see how useless they are. I wonder if they will release details of the findings.

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    Legend Contributor Alison's Avatar
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    In other news, ASIC is based in Melbourne and has as its current Commissioner a Victorian from the establishment with a rugby background.

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    Proudly Western Australian; Proudly supporting Western Australian rugby

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    Immortal Contributor shasta's Avatar
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    The Bronze Star of Faith TWF Contributor!
    Confirms my thoughts on it; being a duplicitous bunch of wankers is unethical but not illegal. Nobody should be surprised, really. It's taken a judicial commission to separate unethical from illegal in the banking world. Even then the ringmasters look like escaping prosecution.

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    "The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David

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    Legend Contributor Alison's Avatar
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    The fact that ASIC found no evidence does not mean that evidence does not or did not exist.

    Also, ASIC’s remit is limited just to the Corporations Act...

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    Proudly Western Australian; Proudly supporting Western Australian rugby

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    Can only hope they get their just desserts eventually. I will not be going to the World Cup or the Bledisloe next year they will not get one cent of my money. Will get behind Twiggy and WSR and hope that RA fall into a big heap over East! I'm furious!

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  7. #7
    Veteran Bakkies's Avatar
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    Quote Originally Posted by Alison View Post
    The fact that ASIC found no evidence does not mean that evidence does not or did not exist.

    Also, ASIC’s remit is limited just to the Corporations Act...
    Exactly I said it on the other thread.

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    'I may be a Senator but I am not stupid'


    https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne

    Link to Senate Report http://www.aph.gov.au/senate_ca

    https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board

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    Player chiraag's Avatar
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    Well that's extremely disappointing

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    Player UAUdiver1959's Avatar
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    I have moved on with WSR. Result is disappointing but we have a fantastic team, coach and support staff. A holy man at the helm in Twiggy and a vision.
    Beautiful night for rugby. Will be a great game. Least is in the East. West is best.

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  10. #10
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    The fight 'aint over Linda Reynolds tells Nick Taylor. Can't wait to hear what she says under parliamentary privilege.


    Rugby Australia cleared over Rebels deal which led to Force axe
    Nick TaylorThe West Australian
    Friday, 17 August 2018 4:25PM

    The Australian Securities and Investments Commission has cleared Rugby Australia and the Melbourne Rebels following an investigation into the controversial transfer of the Super Rugby club’s ownership ahead of axing the Western Force.
    But the matter will continue to dog the sport’s governing body and the Victorian club when the decision is raised next week in Federal Parliament.

    More here

    https://thewest.com.au/sport/rugby-u...-ng-b88932139z

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  11. #11
    Veteran Bakkies's Avatar
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    Quote Originally Posted by wholetruth View Post
    The fight 'aint over Linda Reynolds tells Nick Taylor. Can't wait to hear what she says under parliamentary privilege.


    Rugby Australia cleared over Rebels deal which led to Force axe
    Nick TaylorThe West Australian
    Friday, 17 August 2018 4:25PM

    The Australian Securities and Investments Commission has cleared Rugby Australia and the Melbourne Rebels following an investigation into the controversial transfer of the Super Rugby club’s ownership ahead of axing the Western Force.
    But the matter will continue to dog the sport’s governing body and the Victorian club when the decision is raised next week in Federal Parliament.

    More here

    https://thewest.com.au/sport/rugby-u...-ng-b88932139z
    It ain't over I mentioned on the other thread that ASIC's credibility is shot and the whole regulatory procedures need to be addressed. Senator Reynolds knows this.

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    'I may be a Senator but I am not stupid'


    https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne

    Link to Senate Report http://www.aph.gov.au/senate_ca

    https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board

  12. #12
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    Being an arsehole isn't illegal, doesn't mean your not an arsehole. I knew this would be the end result, they screwed us by the book.

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  13. #13
    Senior Player SPaRTAN's Avatar
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    The fact that ASIC really are a non-entity hasnt helped. Hopefully they burn ASIC down and rebuild something else in its place. Something with an actual bite.

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  14. #14
    Player Leo86's Avatar
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    Quote Originally Posted by Heapsoffun View Post
    Being an arsehole isn't illegal, doesn't mean your not an arsehole. I knew this would be the end result, they screwed us by the book.
    Hahaha I love it, he's legally an arsehole

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