Doug Shave

Doug Shave

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    Minister to study select inquiry into finance broking

    7/12/2000 5:22 PM
     
    7/12/00

    Fair Trading Minister Doug Shave will read the report of the select committee carefully before commenting on its findings and recommendations.

    “While the inquiry was sitting, the Government was continuing its wide ranging program to assist investors and to bring the guilty to justice,” Mr Shave said.

    “The Gunning Inquiry has completed its extensive inquiries and is due to hand its full report to the Government on December 15.

    “Sixteen people have been charged with more than 300 offences and a number of people in the finance broking and related sectors have had disciplinary action taken against them.”

    The Minister said one broker was already serving a long prison sentence and investigations were continuing into a number of other people.

    “In addition, the Government is continuing to fund supervisors to untangle the trail left by two brokers and to recover as much of investors’ funds as possible,” he said.

    Media contact: John Clune 9213 6500