The corporate regulator argues financial scoundrels could skirt around watchdog surveillance if it revealed why it did not want to take action over collapsed fund manager Blue Sky.
The Australian Securities and Investments Commission made the argument in withholding documents outlining its rationale to drop an investigation into the ASX-listed company once worth more than $1 billion.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
