ASIC, the commission claimed, could investigate UBS for overcharging, misleading and deceptive conduct in claiming derivatives contracts used in the financing were struck at nil-premium, and for failing to manage conflicts that arise from acting as both adviser and financier to PNG.
“It should be looking into how an Australian company came to be involved in financial scandals, in a country that Australia takes special responsibility for supporting good governance.
Prime Minister James Marape has pledged to set up a multi-agency taskforce including the prime minister’s department, the police department, Treasury and finance and Transparency International to ensure the recommendations are implemented.reported that PNG police commissioner David Manning had received the report from the government. He said the investigations would be a joint effort between the police, Internal Revenue Commission and Independent Commission against Corruption.