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ASIC the toothless tiger. What a shame.
https://www.rugby.com.au/news/2018/0...els-conclusionASIC 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
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.
In other news, ASIC is based in Melbourne and has as its current Commissioner a Victorian from the establishment with a rugby background.
Proudly Western Australian; Proudly supporting Western Australian rugby
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.
"The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David
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...
Proudly Western Australian; Proudly supporting Western Australian rugby
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!
'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
Well that's extremely disappointing
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.
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
'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
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.
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.