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A private investment company accepts money from clients - HSC - SSCE Business Studies - Question 14 - 2022 - Paper 1
Question 14
A private investment company accepts money from clients. The owner illegally uses this money for their own personal use. Which government body would take legal acti... show full transcript
Worked Solution & Example Answer:A private investment company accepts money from clients - HSC - SSCE Business Studies - Question 14 - 2022 - Paper 1
Step 1
Identify the relevant government body
Answer
In this case, the Australian Securities and Investments Commission (ASIC) is the government body responsible for taking legal action against individuals and companies involved in illegal financial activities, such as misusing clients' money. ASIC's role includes enforcing laws to protect investors and maintain the integrity of the financial market.
Step 2