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Corporate regulator does not know how Coalition’s class action crackdown would work – The Guardian

Asic tells parliament it had just two public documents to work from to come up with response to treasurer’s sudden change

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The corporate regulator has told parliament it does not know how a clampdown on litigation funders introduced by treasurer Josh Frydenberg will work, less than five weeks before the changes are due to come into force.
In a shambolic morning of evidence to a parliamentary committee, Australian Securities and Investments Commission officers revealed the regulator had just two public documents to work from in coming up with a response to Frydenbergs move his media release and a regulatory impact s…

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