Australia's corporate regulator will not investigate the directors of allegedly corrupt Reserve Bank subsidiaries, despite receiving a federal police referral.
The Australian Securities and Investments Commission said in a statement yesterday that it had reviewed material ''from the AFP for possible directors' duty breaches of the Corporations Act and has decided not to proceed to a formal investigation.
''ASIC considers a range of factors when deciding to investigate and possibly take enforcement action … ASIC intends to make no further comment on this matter.''
