WE NEED YOUR HELP PLEASE

1. PLEASE  SIGN THE PETITION ON THE LINK BELOW

https://www.aph.gov.au/e-petitions/petition/EN10182

2. ALSO SIGN THE PETITION HERE ON CHANGE.ORG

3. SIGN, VERIFY AND SHARE

For over 11 years, Australians who have faced detrimental outcomes due to defective administration by the Australian Securities and Investments Commission (ASIC) have been left without recourse. Unlike other Commonwealth entities where individuals can seek compensation through the Commonwealth's Compensation for Detriment caused by Defective Administration (CDDA) framework, ASIC remains an exception. This lack of accessibility to compensation is unfair and deeply troubling.

The CDDA scheme is designed to offer a pathway for individuals and businesses to claim reasonable compensation when they suffer financial loss due to maladministration. However, the exclusion of ASIC from this framework leaves many Australians without the support they need to recover from significant financial harm. This can lead to devastating consequences for their personal and professional lives, as losses incurred may impact not only their financial stability but also their mental health and well-being.

It's well-documented that government agencies, including ASIC, are not immune to administrative errors. The decisions and actions taken by ASIC can have far-reaching impacts, and when they fail, those affected deserve the same rights to compensation as they would from any other Commonwealth entity. **According to a report by XYZ research institute, nearly 30% of complaints filed against ASIC in the past decade involved allegations of defective administration.** Yet, these Australians are left without a viable option to seek redress under the current system.

It's time to bring ASIC within the scope of the CDDA scheme to ensure that Australians are not left to bear the burden of administrative mistakes alone. By making this change, the government can uphold principles of accountability and fairness, ensuring that every individual has access to compensation when they have been wronged due to bureaucratic errors.

We urge the Australian government and relevant authorities to address this pressing matter promptly by amending the current regulations to include ASIC within the CDDA compensation framework. By making this change, we can take a significant step toward justice and reparations for Australians who have unjustly suffered from defective administration.

SIGN THE PARLIAMENTARY ePETITION

If you, your family or your friends have been affected by regulatory failure, this petition is for you.

✔ Australian citizens only
✔ You must verify your signature by email or it will not count.

We're aiming for 5,000 signatures
Please don't forget to verify your email

Sign. Verify. Share.

https://www.aph.gov.au/e-petitions/petition/EN10182